The two stocks paying biggest FTSE 100 dividends in November

Dividends by British American Tobacco (LSE:BATS) and Tesco (LSE:TSCO) will account for three-quarters of income when 14 FTSE 100 companies distribute a total of £2.2 billion to shareholders in November.

Just £14 million will come from the housebuilding sector after Barratt Redrow (LSE:BTRW) cut its full-year payout to a nominal 1p a share, and Persimmon (LSE:PSN) and Taylor Wimpey (LSE:TW.) were relegated from the blue-chip index.

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Two years ago, the trio handed over more than £400 million in what represented one-sixth of November 2024’s FTSE 100 total dividend payments. The return of cash built up on their balance sheets meant these firms once led the top index in terms of above-average yields.

However, Barratt Redrow now trades with a prospective yield of just 0.3% after telling investors that the bulk of the current year’s £400 million of capital returns will be through share buybacks.

The company said additional buybacks were an opportunity to optimise shareholder returns, given the material discount to tangible net assets at which its shares have traded.

It pointed out that over the last 10 years it has returned nearly £3.5 billion to shareholders through a combination of ordinary dividends, share buybacks and special dividends.

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The 1p a share dividend is due to be distributed on 13 November and compares with the £172 million value of last year’s award of 12.1p a share.

Given its balance sheet strength, City firm Berenberg expects Barratt will continue such returns over the medium term.

It models £300 million per year from 2028, which suggests that the company could buy back about 25% of current shares over the next three years and close to 50% over the next five years.

In the FTSE 250 index, the 4.5% yielding Persimmon is due to distribute about £62 million through the payment of an unchanged dividend of 20p a share on 6 November. Taylor Wimpey is on 13 November with a reduced dividend of 1.2p a share worth £42 million.

The biggest award in the FTSE 100 lands on 6 November when British American Tobacco distributes £1.3 billion in the third leg of its plan to pay 61.26p a share every quarter up until next February.

The tobacco giant, which has lifted its annual dividend for 26 years in a row, yields income of 5.3%.

The highly cash generative company behind the brands Dunhill, Lucky Strike and Vuse has a long-running policy of targeting 65% of long-term sustainable earnings. This record included dividend growth of 2% in the most recent financial year to a total of 245.04p.

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Its quarterly dividends provide shareholders with a more regular flow of dividend income and allow the company to spread its substantial dividend payments more evenly.

The 2.7% yielding Tesco is due to pay 5.05p on 20 November, which represents an increase of 5.2% over a year earlier and is in line with its policy to pay 35% of the prior full year dividend.

The dividend of £316 million is 31% more than in 2023 and 2024 and compares with no interim award at all in 2015 and 2016, when the now Diageo boss Dave Lewis was in the early stages of his turnaround programme.

On 13 November, B&Q and Screwfix owner Kingfisher (LSE:KGF) is due to pay another interim dividend of 3.8p a share. The award has been at this level since November 2021, a five-year period in which the 3.5% yielding retailer has handed £1.3 billion to shareholders.

Howden Joinery Group (LSE:HWDN), which yields income of 2.7%, has lifted the interim payment planned for 20 November by 2% to 5.1p. That compares with 4.3p a share in November 2021.

The highest-yielding stock in November’s dividend calendar is the 5.5% of Tritax Big Box Ord (LSE:BBOX) REIT, which is due to pay the third of its quarterly distributions of 2p a share on 27 November.

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Each represents 25% of the previous full-year dividend, with the fourth quarter dividend due in March determining any progression. The aim is to achieve an overall pay-out ratio in excess of 90% of adjusted earnings.

Marketing and advertising group WPP (LSE:WPP) returns to the FTSE 100 line-up with a yield of 3.8%, which is based on its intention to maintain the total annual dividend at 15p per share.

This includes plans for an unchanged award of 7.5p a share on 2 November and compares with the 39.4p paid across the 2024 financial year.

On the same day, F&C Investment Trust Ord (LSE:FCIT) is due to continue its 55-year record of dividend growth by paying £18 million or 99p a share.

Games Workshop Group (LSE:GAW) only pays dividends out of its “truly surplus” cash, which amid its continued run of strong trading means it will distribute 70p a share on 27 November.

The latest award takes the total announced so far in 2026-27 to 300p, compared with 225p in the previous year.

Meanwhile, the Smith & Nephew (LSE:SN.) payment of 15.6 US cents (11.72p) on 6 November is an increase of 4% as the medical devices firm distributes 40% of the prior full year award.

The other FTSE 100 stocks in the dividend calendar are Weir (LSE:WEIR) on 3 November, Spirax Group (LSE:SPX) on 13 November, Smiths Group (LSE:SMIN)on 23 November and JD Sports Fashion (LSE:JD.) on 27 November.

Source: interactive investor, ShareScope. Data and dividend conversions to sterling at exchange rate correct on 27 October 2026.