Share capital

31 December 2023

On 21 February 2023 the Company announced it's intention to return $750 million back to shareholders through a buyback programme to commence immediately.

The Company will make further announcements in respect of the shares purchased under the buyback programme as they occur. You can view these announcements here under regulatory news.

31 December 2022

On 9 August 2022 the Company announced and commenced a $500 million share buyback programme. As part of the buyback, 4,817,620 shares were bought back and cancelled and 4,455,374 shares were bought back and transferred to treasury.

The programme was completed on 31 January 2023.

31 December 2021

No changes to the structure of the Company's share capital took place during 2021.

31 December 2020

No changes to the structure of the Company's share capital took place during 2020.

31 December 2019

At the General Meeting of the Company held on 11 January 2019 shareholders approved the 19 for 20 share consolidation and related matters announced in 2018. 

The share consolidation became effective on 14 January 2019. 

No other changes to the structure of the Company's share capital took place during 2019.

31 December 2018

Year ending 31 December 2018

On 19 October 2018, the Company announced its intention to return funds of approximately US $500 million to shareholders by way of a Special Dividend with share consolidation. 

On 14 December 2018, the details of the proposed Special Dividend of US $2.621 per ordinary share to be accompanied by a share consolidation on a 19 for 20 basis, were sent to all shareholders. 

At the General Meeting of the Company held on 11 January 2019 shareholders approved the share consolidation and related matters. 

The record date for both the Special Dividend and share consolidation was 11 January 2019. The share consolidation became effective on 14 January 2019. The sterling equivalent amount of the Special Dividend was announced 17 January 2019 as 203.8p and was paid to shareholders on 29 January 2019. 

31 December 2017

Year ending 31 December 2017

On 21 February 2017, the Company announced its intention to return funds of approximately $400 million to shareholders by way of a special dividend with share consolidation.

On 4 April 2017, the details of the proposed special dividend of US$2.025 per share to be accompanied by a share consolidation on a 45 for 47 basis, were sent to all shareholders.

At the Annual General Meeting of the Company held on 5 May 2017 shareholders approved the share consolidation and related matters. The record date for the special dividend and the share consolidation was 5 May 2017. The share consolidation was effective on 8 May 2017. The sterling equivalent amount of the special dividend was announced on 11 May 2017 as 156.4p and was paid to shareholders on 22 May 2017.

31 December 2016

Year ending 31 December 2016

On 23 February 2016, the Company announced its intention to return funds of approximately $1.5 billion to shareholders by way of a special dividend with share consolidation.

On 4 April 2016, the details of the proposed special dividend of US$6.329 per share to be accompanied by a share consolidation on a 5 for 6 basis, were sent to all shareholders.

At the Annual General Meeting of the company held on 6 May 2016 shareholders approved the share consolidation and related matters. The record date for both the special dividend and the share consolidation was 6pm on 6 May 2016. The share consolidation was effective on 9 May 2016. The sterling equivalent amount of the special dividend was announced on 12 May 2016 as 438.2p and was paid to shareholders on 23 May 2016.

31 December 2015

Year ending 31 December 2015

No changes to the structure of the Company's share capital took place during 2015.

31 December 2014

Year ending 31 December 2014

On 2 May 2014, the Company announced its intention to return funds of approximately $750 million to shareholders by way of a special dividend. On 6 June 2014, the details of the proposed special dividend, of US$2.93 (174.9 pence) per share to be accompanied by a share consolidation of 12 for 13 basis, were sent to all shareholders.

At a General Meeting of the Company held on 30 June 2014 shareholders approved the share consolidation and related matters. The record date for both the special dividend and the share consolidation was 6pm on 30 June 2014. The share consolidation was effective on 1 July 2014 and the special dividend, was paid on 14 July 2014.

Share repurchases under the $500 million share repurchase programme announced on 7 August 2012 began on 12 November 2012. As at 30 June 2014, 23,611,725 ordinary shares were purchased and cancelled under this programme. This programme was completed on 29 May 2014.

Year ending 31 December 2013

No changes to the structure of the Company's share capital took place during 2013.

Year ending 31 December 2012

On 7 August 2012, the Company announced its intention to return funds of approximately $500million to shareholders by way of a special dividend. On 14 September 2012 the details of the proposed special dividend, of US$1.72 (108.4 pence) per share to be accompanied by a Share Consolidation of 14 for 15 basis, were sent to all shareholders. At a General Meeting of the Company held on 8 October 2012 shareholders approved the share consolidation and related matters. The record date for both the special dividend and the share consolidation was 6pm on 8 October 2012. The share consolidation was effective on 9 October 2012 and the special dividend, was paid on 22 October 2012.
Share repurchases under the $500 million share repurchase programme announced on 7 August 2012 began on 12 November 2012. As at 31 December 2012, 4,143,960 ordinary shares were purchased and cancelled under this programme. This programme is ongoing.

Year ending 31 December 2011

No changes to the structure of the Company's share capital took place during 2011.

Year ending 31 December 2010

No changes to the structure of the Company's share capital took place during 2010.

Year ending 31 December 2009

No changes to the structure of the Company's share capital took place during 2009.

Year ending 31 December 2008

Purchases and cancellations of shares under the £150 million share repurchase programme, announced on 20 February 2007, commenced on 5 September 2007.

As at November 2008 a total of 14,446,554 shares had been repurchased and cancelled under this programme at an average of £8.31 per share.

Completion of the remaining £30 million of the £150 million buyback programme was deferred in November 2008, in order to preserve cash and maintain the strength of IHG's balance sheet.

Year ended 31 December 2007

Purchases and cancellations of shares under the £250 million share repurchase programme announced on 8 September 2005, completed on 28 June 2007. A further £150 million share repurchase programme, announced on 20 February 2007, commenced on 5 September 2007 and continued during the rest of 2007.

At completion a total of 26,494,616 shares were repurchased and cancelled under the £250 million programme at an average price of £9.43 per share. At 31 December 2007, 5,227,229 shares had been repurchased and cancelled under the £150 million programme at an average price of £9.57 per share. The £150 million programme is ongoing.

On 4 May 2007 the details of the proposed special dividend, announced on 20 February 2007, of 200 pence per share to be accompanied by a share consolidation of 47 for 56 basis, were sent to all shareholders. At an Extraordinary General Meeting of the Company held on 1 June 2007 shareholders approved the share consolidation and related matters. The record date for both the special dividend and the share consolidation was 1 June 2007. The share consolidation was effective on 4 June 2007 and the special dividend, amounting to £709 million, was paid on 15 June 2007.

Year ended 31 December 2006

Purchases and cancellations of shares under the £250 million share repurchase programme announced on 9 September 2004 continued during 2006. During the year a total of 4,412,752 shares were repurchased and cancelled under the programme at an average price of 889 pence per share. Under the programme as a whole (encompassing purchases during 2004, 2005 and 2006) a total of 88,108,744 shares were repurchased at an average price of 638 pence per share. This programme was completed on 11 April 2006.

Purchases and cancellations of shares under the £250 million share repurchase programme announced on 8 September 2005 began on 18 April 2006. As at 31 December 2006, 23,997,001 ordinary shares were purchased and cancelled under this programme at an average price of 913 pence per share. This programme is ongoing.

On 2 March 2006, the Company announced its intention to return surplus funds of approximately £500 million to shareholders by way of a special dividend. On 5 May 2006 the details of the proposed special dividend of 118 pence per share, to be accompanied by a share consolidation on a 7 for 8 basis, were sent to all shareholders. At an Extraordinary General Meeting of the Company held on 1 June 2006 shareholders approved the share consolidation and related matters. The record date for both the special dividend and the share consolidation was 9 June 2006. The share consolidation was effective on 12 June 2006 and the special dividend was paid on 22 June 2006.

Year ended 31 December 2005

Purchases and cancellations of shares under the £250 million share repurchase programme announced on 9 September 2004 continued during 2005. During the year a total of 30,600,010 shares were repurchased and cancelled under the programme at an average price of 672 pence per share. This programme continued during 2006 and was completed on 11 April 2006.
On 10 March 2005 the Board announced its intention to return surplus funds to shareholders subject to the completion of its UK Hotels disposal, also announced on that date. On 3 May 2005 a circular was sent to shareholders setting out full details of the proposed return of approximately £1 billion to shareholders by way of a capital reorganisation.

The proposals were fully implemented, as described in the above documents. The capital reorganisation entailed the issue of 11 new IHG shares and £24.75 in cash for every 15 IHG shares held on the record date of 24 June 2005, and qualifying shareholders received their entitlements to new IHG shares with effect from 27 June 2005. Cash entitlements arising from the return of funds were sent to shareholders on 8 July 2005.
On 8 September 2005 the Company announced a further on-market share repurchase programme of up to £250 million. This programme was initiated following completion of the £250 million share repurchase programme referred to above.
During the year 2,448,632 shares were issued under Employee Share Schemes.

Year ended 31 December 2004

On 11 March 2004 the Company announced an on-market share repurchase programme of up to £250 million. The programme was completed on 20 December 2004. In total, 45,586,706 shares were repurchased and cancelled at an average price of 548.41 pence per ordinary share.

A further £250 million share repurchase programme, announced on 9 September 2004 as part of a planned further return of funds to shareholders, began on 20 December 2004 following completion of the first share repurchase programme. As at 31 December 2004 a total of 799,275 shares had been repurchased and cancelled under this second programme at an average price of 651p per share. This programme was completed on 11 April 2006.

Also as announced on 9 September 2004, a special dividend of 72 pence per share, representing a return of some £501 million to shareholders in aggregate, was paid on 17 December 2004. At an Extraordinary General Meeting held on 10 December 2004 shareholders approved an associated share consolidation on a 25 for 28 basis. On 11 November 2004 the Company announced that Six Continents PLC (its subsidiary company) would, on 13 December 2004, redeem all of the remaining £18.1 million outstanding £250 million 5.75% Notes due 21 December 2007. The outstanding Notes have been redeemed at their principal amount together with interest accrued to, but excluding, the Redemption Date.

On 11 November 2004 the Company announced an offer to purchase for cash its €600 million 4.75% Notes due 20 October 2010. The tender offer ended on 3 December 2004. On that date the Company had received Acceptance Notices in respect of €574,639,000 (95.77%) of the Notes outstanding. The Company redeemed all of the Notes, not tendered by the deadline, at their principal amount, together with interest, on 7 January 2005.

During the year 3,931,494 shares were issued under Employee Share Schemes.

Period ended 31 December 2003

When InterContinental Hotels Group ordinary shares were first listed on the London and New York Stock Exchanges in April 2003, shareholder authority was in place for the Company to purchase its own shares up to a maximum of 110,095,835.
During the period to 31 December 2003 no shares were purchased for cancellation. 4,902,352 shares were issued under Employee Share Schemes.
During the period 4,902,352 shares were issued under Employee Share Schemes.

Separation of the Six Continents Group

On 15 April 2003, following shareholder and regulatory approval, Six Continents separated into two new listed groups, InterContinental Hotels Group PLC comprising the Hotels and Soft Drinks businesses and Mitchells & Butlers PLC comprising the Retail and Standard Commercial Property Developments businesses.
For every 59 Six Continents ordinary shares held on 11 April 2003 (the 'record date' for the Separation) shareholders received 50 InterContinental Hotels Group ordinary shares, plus 50 Mitchells & Butlers ordinary shares, plus £47.79 in cash (or 81p per Six Continents ordinary share).
A total of 734,461,900 InterContinental Hotels Group ordinary shares of £1 each were issued on Separation. These entitlements, together with the value of any fractional entitlements, were released to shareholders on 23 April 2003.

Six Continents PLC

Period up to Separation on 15 April 2003

On 27 February 2003 the Company redeemed its £250 million 10 3/8% debenture stock due 2016 in full, in accordance with the provision of the Trust Deed constituting the stock. The stock was redeemed at £1,539.80 per £1,000 principal amount.

Year ended 30 September 2002

At the Annual General Meeting on 14 February 2002, shareholders granted authority for the Company to purchase its own shares to a maximum of 129,850,000.

Year ended 30 September 2001

During the year, 1,676,739 ordinary shares were issued under Employee Share Schemes and 14,945,000 shares were cancelled. The ordinary share capital at 30 September 2001 consisted of 866,084,152 ordinary shares of 28p each. Following the authority granted by shareholders on 15 February 2001, the Company purchased 1,675,000 of its ordinary shares in the market at an average price of 713p per share and cancelled those shares.

Year ended 30 September 2000

The ordinary share capital at 30 September 2000 consisted of 879,352,413 ordinary shares of 28p each. During the year, as with all years, shares were issued under Employee Share Schemes. A further 79,000,202 ordinary shares were issued as part of the consideration for the acquisition of 550 pubs formerly owned by Allied Domecq. Under the terms of the authority granted by shareholders, on 3 February 2000 the Company purchased 11,400,000 of its ordinary shares in the market and then cancelled those shares after the year end. All the Company's outstanding B shares were redeemed at par on 10 April 2000.

Year ended 30 September 1999

Opportunities for B share redemption were provided in 1998 and 1999 resulting in £832.24m being returned to shareholders.

Year ended 30 September 1998

On 16 December 1997, the Company announced that it intended to return approximately £850m of capital to shareholders by way of a bonus issue of one redeemable B share of 95.5p for each existing ordinary share of 25p in conjunction with 25 for 28 capital consolidation of the ordinary shares. The reorganisation was approved at an Extraordinary General Meeting held on 5 February 1998. Opportunities for B share redemption were provided in February and April 1998.

Year ended 30 September 1997

On 30 September 1997, £5,259,674 of the Company's listed 4.5% Unsecured Loan Stock 1992/97 was redeemed at par.

Year ended 30 September 1996

On 30 September 1996, the following listed securities of the Company were redeemed at par:
£1,452,853 of 10.65% Debenture Stock 1996/99, and
£14,977,191 of 7.75% Unsecured Loan Stock 1992/97.

Year ended 30 September 1993 to year ended 30 September 1995

The only changes in share capital in this period were due to issues of shares under Employee Share Schemes.

Year ended 30 September 1992

At an Extraordinary General Meeting held on 23 January 1992, shareholders approved, inter alia, an increase in the authorised Ordinary share capital of the Company from £145m to £290m by the creation of 580 million Ordinary shares of 25 pence each and the issue of one new Ordinary share for each existing Ordinary share to shareholders on the Register at the close of business on 16 January 1992, such new shares being issued credited as fully paid at par by capitalisation from the share premium account. The Company's 4% and 7% Preference shares were repaid on 28 February 1992, the High Court having confirmed the repayment by way of a reduction in share capital. The balance of £7.02m outstanding on the 31% Debenture Stock 1987/92 and £23.04m outstanding on the 81% Debenture Stock 1987/92 was repaid at par on 30 September 1992.