The declared interim dividend of 24.1p per share is expected to be paid on 3 September 2021.
The ordinary shares will be quoted ex-dividend on the London Stock Exchange as of 19 August 2021. The record date for eligibility for payment will be 20 August 2021.
Other financial highlights include:
Strong cash generation of £872m in H1 2021 (H1 2020: £433m) has more than doubled reflecting the scale of the enlarged Group; on track to deliver at top end of £1.5bn-to-£1.6bn target range for FY 2021.
Resilient balance sheet reflected in a Solvency II surplus of £5.1bn as at 30 June 2021 (31 December 2020: £5.3bn) following a £0.2bn debt repayment in March 2021.
Shareholder Capital Coverage Ratio of 166% as at 30 June 2021, comfortably within the Group's target range of 140%-to-180% (31 December 2020: 164%).
Leverage ratio of 28% as at 30 June 2021 is within target range of 25%-to-30% (31 December 2020: 28%).
£412m of new business long-term cash generation comprises £206m completed in H1 2021 and a further £206m subsequently completed in July 2021 through an additional c.£1bn buy-in tranche of the Pearl Pension Scheme (H1 2020: £358m).
Capital strain on all BPA new business reduced to 6% (FY 2020: 8% external deals and 12% Pearl Pension Scheme) reflecting expected efficiencies from internal model harmonisation.
Other key financial metrics
Group operating profit of £527m in H1 2021 (H1 2020: £361m).
Assets under administration of £304bn as at 30 June 2021 (31 December 2020: £338bn) due to the planned disposals of the Wrap SIPP, Onshore Bond and TIP products to abrdn plc and of Ark Life.