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hoping its all buy backs. longterm good for investors - fewer shares, higher EPS. As well as that, less dividend tax. Along with debt reduction - phenomenal performance (A+++)
If they are returning £4b, with £750m immediate buy back that would leave £3.25b. All of that as a divi could be up to 90p. If another similar buyback included, divi could be up to 70p.
Or am I missing something?
Its 5% share buy back. If they do another 5% at full yr results then 10% would be a good amount. Hopefully 500 share price by then
What’s that about 170million shares to be cancelled ? Not going to make a lot of difference in the grand scheme of things. Results are very encouraging.
this is probably one in a small number of companies that just never gets rewarded for outstanding performance.
adjusted operating profit up 17%... thats a miss. give me strength.
Usually sometimes
The breadth of Aviva, across life insurance and general insurance, is a key strategic advantage and has driven a 17% increase in operating profit4,5,‡ to £725 million. We also delivered some of our best ever sales figures in the first six months. In UK general insurance we delivered our highest sales3 in a decade. In Savings & Retirement, net flows‡ increased by 24% to a record £5.2 billion, and we've added 100,000 new workplace customers, reinforcing our number one position.
Alongside delivering growth, we continue to focus on reducing controllable costs4,6,‡ which are down 2%. We are on track to deliver our £300 million savings target in 2022 and are focused on achieving top quartile efficiency in all our businesses.
While we've got more to do, our half year results show we have what it takes to drive growth in our businesses. We remain completely focused on transforming performance, capitalising on the breadth of Aviva, making insurance simple and easy for our customers, and creating value for our shareholders."
Return of capital to shareholders of at least £4bn by HY 2022 with full details with FY results in March 20221
They seem to think they have beat previous operating profit??
I'm not unhappy having bought a large chunk at 383 19 July. My expectations with this stock have been well and truly managed over the years. It goes down, then up; repeat forever. Should I sell before XDD?
Nuri. Your just an old sourpuss aren't you. Enjoy the news today and have a good day. :-))
Once we get full year numbers and hopefully cash and profit recognised on remaining disposals Aviva strengths will be even clearer.
Aviva has a long way to go I suspect in terms of being a class leading insurance like Admiral. It will be a long haul because Aviva has been trying to reduce costs for past 15 years but hopefully smaller portfolio of business will increase focus. They should scale back Aviva Head Office like Prudential as group scale has reduced.
I suspect Aviva Sing stake will be sold at some stage as well as India and China jvs will be realised as well but selling jvs is much harder than 100% stakes.
they missed on the operating level so its a surprise that its up at all. the capital return helps but also the positivity of the markets esp towards uk assets. i think the shares are doing well today considering.
4.13 is really taking the ****. exceptional results might as well never happened. still far below NAV. something seriously wrong with investing community. meanwhile ashstead is 100% above NAV for poor results... beggars belief!
the plan was to slim down and sell non essential assets so not necessarily spend the money elsewhere. tbh you wont get many bargains today so better hand it back to shareholders thru a buyback or dividend. in any case a smaller fitter aviva makes it a tgt for a big asset manager
High of 422p so far Nuri and most haven't read thre report yet. Don't be a misery :-)
Maybe I’ve misread, but I haven’t seen mention of consolidation as per Tesco whereby shareholders’ holdings would be reduced. I’ve only read of buy back whereby the overall number of areas in circulation is reduced.
Albany - me neither - but it’s not surprising - distributing dividends from capital sales doesn’t sound right to me - as they need to replace the profits that capital used to earn ( eg Italy and Poland ) and it’s better to reduce share numbers and also invest in the business.
Not great from a short term SP perspective but good from a longer term one.
The right thing to do.
In round numbers, that are increasing the divi by 5 % & reducing the share count by 5%.
So, (this round excepted) no increase in the net cost of recurrent dividend.
Frees up further cash for director bonuses.
Brilliant business for the self serving directors and monkey NEDs
rise is paltry
418.30 GBX
12 Aug, 08:02 BST · Disclaimer
If you go to the outlook section they say they will update us on the return of the rest of
the capital in March 22,in brackets it says "With a preference to a reduction in shares"not happy with that,
NO Specials?
operating profit missed so opens lower. but plenty to like here.
goodpick... look at tesco. they hand back 4 billion in cash say ... and they reduce the number of shares per person to match that.
To just be a shareholder and to hold long term. Great banker for my SIPP.
…their preference is to reduce the number of shares ….
Which means a share buy back is their preference..::
I don’t believe a special dividend has the effect of reducing the number of shares (
this is definitely better value than l&g