M&G PLC have declared an interim ordinary dividend of 6.1 pence per share (estimated to be £155 million) payable on 29 September 2021, in line with their policy of paying one-third of the previous year's total dividend. Following the payment of this dividend, dividend payments will have totalled 40.1 pence per share since their shares were listed in October 2019.
Other financial highlights include:
- Adjusted operating profit before tax of £327 million, up 6% on the first half of 2020
- IFRS loss after tax of £248 million; impacted by short-term fluctuations in the fair value of the surplus assets in they annuity portfolio and derivatives used to hedge the Solvency II balance sheet caused by increasing yields and rising equity markets
- Assets under management and administration increased to £370.0 billion, with positive market movements and net client inflows to Institutional Asset Management more than offsetting net client outflows in other areas of the business
- Total capital generation of £869 million, on track for target of £2.2 billion by the end of 2022
- Shareholder Solvency II coverage ratio strengthens to 198%