Direct Line increases its total dividend payout for the year by 32%

DividendMax Ltd.

Direct Line increases its total dividend payout for the year by 32%

Financial highlights

 

Gross written premium from ongoing operations1 3.8% lower for 2014 compared with 2013, reflecting disciplined approach to underwriting in Motor and Home. Gross written premium trends improved during the year with gross written premium increasing 0.4% in the fourth quarter compared with 2013

 

Combined operating ratio2 from ongoing operations of 95.0% for 2014, an improvement of 0.2 percentage points on 2013 (95.2%) including stable contribution from prior-year reserve releases of £397.6 million (2013: £395.8 million)

 

Stable operating profit from ongoing operations of £506.0 million for 2014 (2013: £509.9 million); while total Group statutory profit before tax for continuing operations rose 12.2% to £456.8 million (2013: £407.3 million)

 

Return on tangible equity3 of 16.8% for 2014 (2013: 16.0%)

 

4.8% increase in final dividend per share to 8.8 pence per share and second special interim dividend of 4.0 pence per share. Total dividends for 2014 of 27.2 pence per share (2013: 20.6 pence per share)

Companies mentioned