The M&G Plc Boardhas declared a first interim dividend for 2025 of 6.7 pence per ordinary share, an estimated £161m in total. The dividend is expected to be paid on 17 October 2025 and will be recorded as an appropriation of retained earnings in the Parent Company's financial statements at the time that it is paid.
Other financial highlights include:
- Adjusted operating profit of £378 million (30 June 2024: £375 million) improved year-on-year due to underlying positive momentum, despite an £8 million foreign exchange loss in Asset Management.
- Increased Asset Management revenue of £514 million (30 June 2024: £499 million) and stable costs of £388 million, absorbing the impact of inflation and of investment in the business to support growth, led to a cost-to-income ratio of 75%. The resulting £15 million higher core result offset lower performance fees and investment income.
- In Life, adjusted operating profit improved for both PruFund and Traditional With-Profits to £112 million (30 June 2024: £98 million) and £120 million (30 June 2024: £108 million) respectively. This fully offset a lower contribution from shareholder annuities of £113 million (30 June 2024: £132 million) following a decrease in the return on excess assets.
- Profit after tax of £248 million increased meaningfully year-on-year (30 June 2024: £56 million loss). This was primarily driven by a significant improvement in short-term fluctuations in investment returns and mismatches arising on application of IFRS 17.
- Operating capital generation of £408 million (30 June 2024: £486 million) continued to be strong, with the underlying result of £331 million increasing by 11% compared to the same period last year. Operating capital generation excluding new business strain of £443 million is in line with the new 2025-2027 cumulative target of £2.7 billion.
