The T.S. Eliot Prize is bestowed by the Poetry Book Society, an organization founded by T.S. Eliot and friends to “to propagate the art of poetry”. The prize is given to the best collection of new verse in English first published in the UK or the Republic of Ireland. The Prize was inaugurated in 1993 in celebration of the Poetry Book Society's 40th birthday and in honour of its founding poet, T.S. Eliot. The prize money is donated by Eliot's widow, Mrs Valerie Eliot.
The Society selects one new collection of poetry for distribution to its members each quarter, and these four collections are automatically shortlisted for the prize. A panel of judges choose add six more selections, and then choose a winner.
The winner receives £15,000 and each of the shortlisted poets receives £1,000.
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