RSA insurance announce dividends of 23.1p per share, up 10%

DividendMax Ltd.

RSA insurance announce dividends of 23.1p per share, up 10%

RSA insurance propose total dividends for 2019 of 23.1p/share, up 10%.  This represents an 52% payout of underlying EPS (ex. exits), above the 40-50% policy range.  A strong capital position and organic capital generation support this, despite the costs of 'below the line' items and bond 'pull to par'.  Reflecting the improvements of recent years in RSA's performance and resilience, they are also increasing their target dividend payout range to 50-60% of underlying EPS.

Other financial highlights include:

Total Group profits up on all measures

Record current year underwriting profit, up by £229m

Excluding exit portfolios:

Group underwriting profit £405m, combined ratio 93.6%

Underlying EPS 44.5p per share, return on tangible equity 16.0%

UK & International region underwriting profit £144m; combined ratio 95.0%

Statutory profit before tax £492m, impacted by exits and other charges

 

Companies mentioned