Phoenix Group announce an interim dividend of 23.4p per share

DividendMax Ltd.

Phoenix Group announce an interim dividend of 23.4p per share

The interim dividend of 23.4p per share is expected to be paid on 4 September 2020. 

The ordinary shares will be quoted ex-dividend on the London Stock Exchange as of 13 August 2020. The record date for eligibility for payment will be 14 August 2020

Other financial highlights include:

• Strong cash generation of £433 million in H1 2020 (H1 2019: £287 million).

• Phoenix's focus on resilience is reflected in a Solvency II surplus of £4.0 billion as at 30 June 2020 (£3.1 billion as at 31 December 2019).

• Shareholder Capital Coverage Ratio of 169% as at 30 June 2020 (161% as at 31 December 2019).

• High quality £21.6 billion shareholder debt portfolio with only 16% of BBB. No defaults in H1 2020 and only 0.1% of bonds in the matching adjustment portfolios downgraded to sub investment grade.

• Group operating profit of £361 million in H1 2020 (H1 2019: £325 million).

• Assets under administration of £248 billion as at 30 June 2020 (£248 billion as at 31 December 2019).

• Leverage ratio of 27% as at 30 June 2020 (22% as at 31 December 2019).

Companies mentioned