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).
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