Intertek (LSE:ITRK) shareholders have voted in favour of a Takeover by the Swedish Investment group EQT, which puts a time limit on one of the longer Dividend records in the FTSE 100. For income investors, the question is no longer how far the payout can grow, but how much longer there will be a listed payout to collect.

A takeover that rewrites the income case

The offer was agreed in June, and its headline value of 6,107.70p per share was made up of 6,000p in cash and a final 2025 dividend of 107.70p. Shareholders have since approved the deal, with completion expected in the fourth quarter of 2026 or the first quarter of 2027, subject to the remaining regulatory clearances.

Once a deal of this kind completes, the shares leave the market and the dividend stream ends for public investors. Intertek therefore remains a listed FTSE 100 company for now, but one whose value is anchored mainly by the agreed terms and the probability of completion rather than by its future distributions.

The structure of the offer is worth noting. Part of the headline value was delivered through an ordinary dividend that shareholders would receive in any case, with the balance paid in cash on completion. That means the dividend and the takeover price were deliberately combined into a single figure, so the 6,000p cash element and the dividends paid along the way are best read as parts of one package rather than as separate returns.

Large takeovers of UK-listed companies commonly proceed through a court-sanctioned scheme, which requires approval from a set majority of shareholders and then a hearing before the transaction becomes effective. That is why the timetable includes both a Shareholder vote and later steps such as court sanction, and why completion is still described as subject to conditions even after the vote has passed.

The dividend numbers

As of 7 October 2026, Intertek's annual dividend is 165p per share. No separate latest interim figure is available. The trailing 12-month Yield and the indicated yield both stand at 2.8%, a modest return that reflects a share price lifted by the bid premium as much as the size of the payout itself.

The dividend grew by 5.4% year on year. Intertek has paid a dividend for 24 consecutive years and has raised it for three years in a row. The shorter growth streak indicates that the payment has not risen every year across that longer history, but the record of uninterrupted payment is a substantial one for a Business that spans consumer goods testing, energy and industrial assurance.

A conventional Payout Ratio is not available for this period, so it offers no useful guide to Earnings cover, and a figure of zero would clearly be misleading for a company paying 165p a share. Investors seeking that measure would need to compare the dividend with reported earnings directly in the company's own accounts.

Trading remains firm into the deal

The most recent trading statement, published on 28 October, showed third-quarter Revenue up 7.0% at constant currency and like-for-like revenue up 6.4%. Consumer Products, Health and Safety, and Industry and Infrastructure led the advance, while the World of Energy division recorded a small like-for-like decline. Management kept its 2026 outlook of mid-single-digit like-for-like revenue growth at constant currency.

That matters less to the offer price, which is fixed, than it does to confidence in the transaction. A business trading in line with its guidance gives a buyer little reason to reconsider, and the board has said its profit forecast still stands. It also shows what public shareholders will give up: a steadily growing testing and assurance Franchise with a long dividend history.

Like-for-like revenue strips out acquisitions, disposals and currency effects, so it is the cleanest guide to how the underlying business is performing. A figure of 6.4% for the quarter, set against a full-year outlook of mid-single-digit growth, suggests that Intertek (LSE:ITRK) is on course to meet the guidance it gave earlier in the year.

What the yield can and cannot tell investors

A 2.8% yield would usually be read against the prospect of future growth. Here that framework is largely redundant. Holders are effectively weighing the remaining gap between the Market Price and the cash terms against the time needed to close and the risk that regulators delay matters.

The usual logic of dividend investing assumes that a company will continue to exist as a listed entity for many years, so that today's payment can be compared with tomorrow's. When a takeover has been agreed, that assumption fails. The yield simply describes the cash paid over the past year relative to the current share price, and it says little about what shareholders will receive in future, because the final stage of the story is the cash consideration rather than further dividends.

Dividend history still has value as background. Twenty-four years of unbroken payments reflect a business with reliable cash generation and a board that treated the dividend as a priority. That history helps explain why the business attracted a buyer, since dependable Cash Flow is a feature that acquirers generally value.

What to watch

The key markers are the outstanding regulatory approvals and any confirmation of a court sanction and effective date, along with notice of when the shares will be cancelled and removed from the FTSE 100. Any statement on further dividends before completion would also be significant.

For those holding LSE:ITRK shares, the timetable is now the central variable. Delays to approvals could extend the period in which the company remains listed, while a swift completion would bring forward both the cash payment and the end of the dividend record. Either way, the next announcements from the company will matter far more than any change in its yield, and shareholders should expect clear notice of each step.