Hastings increases its 2018 interim dividend by 10%
Hastings 2018 interim results
Sustained growth of live customer policies to 2.70 million as at 30 June 2018, a 6% year on year increase (30 June 2017: 2.54 million).
Increased share of the UK private car insurance market to 7.5% as at 30 June 2018 (30 June 2017: 7.0%).
Continued growth in gross written premiums of 5% to £485.6m for the six months ended 30 June 2018 (30 June 2017: £462.0m).
A 9% increase in net revenue to £376.3m for the six months ended 30 June 2018 (30 June 2017: £345.2m).
Strong growth in adjusted operating profit up 22% to £105.1m (30 June 2017: £86.5m) after including £14.6m of prior year VAT recovery and £7.0m impact from adverse weather in the first quarter, or up 13% to £97.5m before the adverse weather and prior year VAT.
Underwriting discipline maintained during a period of market price reductions, with the Group's average written premiums 2% above the six months ended 30 June 2017.
Calendar year loss ratio for the period ended 30 June 2018 of 73.8% (30 June 2017: 73.4%), better than the target range of between 75% and 79%, despite the claims impact from adverse weather experienced in the first quarter.
Continued reduction in net debt leverage multiple to 1.1x adjusted operating profit at 30 June 2018 (31 December 2017: 1.4x) and achieved target level of around 1.0x during the six months to 30 June 2018.
Diversification of debt structure with a successful 7 year £250m investment grade senior bond issue, replacing funds drawn under the Revolving Credit Facility and providing longer term financing and protection from interest rate increases.
Strong solvency position, with a Solvency II coverage ratio of 171% (31 December 2017: 167%).
Significant increase in free cash generated, up £42.0m to £107.8m for the six months to 30 June 2018 (30 June 2017: £65.8m).
Interim dividend for 2018 of 4.5p per share (30 June 2017: 4.1p per share), 10% higher than last year. Achieving the leverage target in the period allows a move towards a policy of increasing distributions to shareholders over time.
GVC declare they will pay an interim dividend of 17.6p, reflecting an increase of 10% compared to last year, and in-line with the new policy of double-digit year-on-year increases.Read more
The Board has declared an interim dividend of 4.0 US cents per share in respect of the first half of 2019, down from 6.0 US cents. KAZ Minerals PLC, the parent company of the Group, is a non-trading investment holding company and derives its profits from dividends paid by subsidiary companies.Read more
The Marshalls board has declared an interim dividend of 4.70 pence (2018: 4.00 pence) per share, an increase of 18 per cent, reflecting the strong cash generation and the Group's continuing progressive dividend policy. The Board will continue to adhere to the Group's capital allocation policy and the policy of maintaining a 2 times dividend cover.Read more
Clarkson have increased their dividend by 1p per share to 25p per share. The Company has now delivered 16 years of consecutive dividend growth.Read more
The Board of Hargreaves Lansdown has declared a 2019 total ordinary dividend of 33.7 pence per share (2018: 32.2p), 5% ahead of last year. This is in line with EPS growth and maintains the ordinary dividend payout ratio at 65%. In addition, the Board has declared a special dividend of 8.3 pence per share (2018: 7.8p). The 2019 total dividend of 42.0 pence per share (2018: 40.0p) is up 5% and results in a total dividend payout ratio of 80.6% (2018: 80.6%). Subject to shareholder approval of the final dividend at the 2019 AGM, the final and special dividends will be paid on 18 October 2019 to all shareholders on the register at the close of business on 27 September 2019.Read more
Evraz has announced interim dividend for 2019 of US$508.17m (US$0.35 per share) has been declared, reflecting the Board's confidence in the Group's financial position and outlook.Read more
The Savills Board has declared an interim dividend of 4.95p per share (2018: 4.8p), supported by the performance of the Group's less transactional businesses. The interim dividend of 4.95p per share will be payable on 2 October 2019 to shareholders on the register on 5 September 2019.Read more
ContourGlobal have proposed quarterly dividend of USD 3.6901 cents per share, equivalent to $24.75 million, reflecting their commitment to 10% year on year dividend growth supported by ContourGlobal's strong and predictable cash flow generation.Read more
Arrow Global will pay a 4.4p interim dividend, an increase of 10% from the H1 2018 interim dividend of 4.0p. This is in line with the Group's policy to pay 50% of the previous year's final dividend.Read more