Next stock split: what it means for traders

Next has no record of stock splits and has made no public statements suggesting it plans to conduct one.

Next plc is one of the UK’s best-known retail groups, operating across online channels, physical stores and third-party brand partnerships. Its shares have long attracted attention, supported by consistent profitability, disciplined capital allocation and regular shareholder distributions. Stock splits are sometimes discussed in relation to large or long-established listed companies, but for Next the picture is straightforward: the group has never carried out a stock split and hasn’t indicated that it intends to change its share structure.

Explore how stock splits work and what’s publicly known about Next’s share history, with the company’s latest financial updates and upcoming developments.

Next (NXT) live share price

Past performance is not a reliable indicator of future results.

What is a stock split?

A stock split is a corporate action that increases the number of a company’s shares by issuing additional shares to existing holders. While the number of shares rises, the share price adjusts proportionally, so the overall value of each holding remains the same.

In a 2-for-1 split, for example, a shareholder receives one additional share for each one they already hold. The doubled share count is usually matched by a halved share price, leaving the company’s market capitalisation and the investor’s total position broadly unchanged.

A split doesn’t change a company’s fundamentals. It simply alters how the shares are denominated. Some firms use splits to improve perceived affordability or liquidity, but they aren’t an indicator of company strength or future performance.

Next’s stock split status

There is no latest stock split for Next. Corporate-action databases and market registries consistently report that no split has taken place. The company hasn’t referenced any historical or potential future split in its official filings, and this applies to both its London-listed shares (NXT) and corresponding OTC-traded instruments.

Why hasn’t Next split?

Next hasn’t conducted a split, so there’s no stated rationale to examine. Companies that do undertake splits typically cite reasons such as improving liquidity or adjusting the nominal share price. Instead of structural changes, Next’s shareholder-return strategy has centred on:

Paying ordinary dividends.
Issuing special dividends.
Carrying out share buybacks when the share price is below management’s internal valuation threshold.

These measures form the basis of its capital-allocation approach.

Will Next split its stock in 2026?

As of mid-December 2025, there’s no indication that Next is preparing a stock split in 2026. Recent trading statements and regulatory filings instead emphasise ordinary dividends, a planned special dividend of around £3.10 per share at the end of January 2026 (subject to conditions), and continued capital discipline, including pausing buybacks when the share price rises above internal valuation estimates. Nothing in the company’s disclosures points to a share split under consideration.

Next stock split history

Publicly available corporate-action records also confirm that Next has no history of stock splits and no announced or scheduled plans for one. This applies across all listed formats of the shares and aligns with the company’s long-standing preference for dividends and buybacks rather than changes to the nominal share structure.

Latest earnings: Next FY2025 results and recent trading

Next continues to report stable performance across online, physical retail and international operations.

FY2025 results

The company reported:

A recommended final ordinary dividend of 158p per share, bringing total ordinary dividends for the year to 233p (subject to shareholder approval).
Steady profit metrics supported by cost management and continued online growth.

These results reflect ongoing profitability and the role of dividends in its distribution strategy.

H1 FY2025 trading updates

Recent half-year figures show:

Sales of about £3.14bn, up from £2.86bn.
Net income rising to roughly £379.5m.
Further H1 updates indicating sales growth of around 10.3% to £3.25bn.
Profit before tax increasing by 13.8%.
Earnings per share rising about 16.8%, supported by UK online and international performance.

These figures point to consistent revenue expansion and underline the contribution of digital and overseas operations.

FY2026 guidance (year to January 2026)

For FY2026, Next has guided towards:

Mid-single-digit full-price sales growth.
A mid- to high-single-digit rise in profit before tax.

Management attributes the outlook to operational efficiencies and stronger international performance.

Summary

Next plc has no history of stock splits and hasn’t announced any for 2026.
The company continues to prioritise ordinary dividends, special dividends and buybacks as its main shareholder-return mechanisms.
FY2025 and H1 FY2025 results show solid sales and profit growth across the group.
FY2026 guidance points to continued revenue growth and a rise in profit before tax.
Strategic priorities include international expansion, digital development and disciplined capital allocation.

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FAQ

When did Next stock split?

Next plc has never carried out a stock split. Public corporate-action records show no split events, so there’s no date associated with one.

Did Next have a stock split before?

No. Stock-split databases covering both the London-listed shares (NXT) and their over-the-counter equivalents report no historical split activity.

How many times has Next stock split?

Next plc has never split its stock, so the number of stock splits is zero.

How much was Next stock after the split?

There’s no post-split price because no split has been carried out. Historical prices reflect normal market movements, dividend adjustments and other routine corporate actions.

Why hasn’t Next split its stock?

Next hasn’t undertaken a stock split, so there’s no company rationale to review. While some firms use splits to adjust share pricing or improve liquidity, these factors haven’t formed part of Next’s approach to shareholder returns, which has focused on dividends and buybacks.

Will Next split?

There is no indication that Next plans to split its shares in the future. Recent regulatory filings and trading statements emphasise dividends, occasional special distributions and disciplined buyback activity, with no reference to structural changes to the share base.

What was the most recent Next stock split date?

There is no recent or historical stock split date for Next plc, as the company has never implemented one.

Can you trade Next shares as CFDs on Capital.com?

You can trade CFDs on a wide range of share markets, including Next, on Capital.com. CFD trading lets you speculate on price movements without owning the underlying asset. Contracts for difference (CFDs) are traded on margin – leverage amplifies both profits and losses. Understand how CFDs work and how to use risk-management tools such as take-profit and stop-loss orders before opening a position. Past performance isn’t a reliable indicator of future results.*

*Standard stop-loss orders are not guaranteed. Guaranteed stop-loss orders incur a fee if activated.