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  2. Share Prices
  3. Legal & General Share Price
  4. Legal & General Share News
  5. Legal & General lifts dividend by a fifth

Pin to quick picksLegal & General Share News (LGEN)

Legal & General Information

Share Price Information for Legal & General (LGEN)

London Stock Exchange
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Share Price: 251.90
Bid: 252.10
Ask: 252.20
Change: 1.90 (0.76%)
Spread: 0.10 (0.04%)
Open: 254.00
High: 257.50
Low: 251.30
Prev. Close: 250.00
LGEN Live PriceLast checked at -

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Legal & General lifts dividend by a fifth

Tue, 15th Mar 2016 07:18

(ShareCast News) - Legal & General boosted its full year dividend by a fifth to 13.4p per share in its annual results on Tuesday - and committed to more progressive increases - against market expectations.The dividend had already doubled in size since 2010, with UBS earlier forecasting that growth in the distributions would have to slow to 6% a year between 2016 and 2019.Net cash generation at the FTSE 100 firm was also up, by 14% to £1.26bn, with operating profit up 14% to £1.46bn. Profit after tax rose 10% to £1.09bn.Legal & General reported adjusted earnings per share of 18.58p, up 11% on 2014.The firm also reported its position under the Solvency II rules, where it had a surplus of £5.5bn and a coverage ratio of 169%. It also had an economic capital surplus of £7.6bn, and a coverage ratio there of 230%."Legal & General delivered excellent growth in cash, profits and dividends in 2015: net cash generation and operating profit were both up by 14%, EPS was up 11 % and we are increasing the dividend by 19%," said group chief executive Nigel Wilson."Over the last 4 years we have delivered sustained growth, net cash has increased 10%, EPS has increased 11% and the dividend increased by 20% on average each year," he added.Wilson said the company had already moved to a 'capital-lite' model for its UK pension risk transfer business in anticipation of the new Solvency II regime, and would use its surplus capital under the rules to continue to deliver on strategy.He said the company's business model remained robust, and had proved itself adept and resilient in dealing with fiscal and regulatory changes."We are planning for more global economic and market volatility and are well positioned for continued pressure on pricing and changes in product mix in our industry," Wilson explained."Our strategy is aligned to growth for our markets, meeting our customers' needs and delivering socially useful products. We remain confident in the outlook for our business," he concluded.Legal & General's board recommended a final dividend of 9.95p per share, up from 8.35p a year earlier.
More News
5 Jul 2023 08:22

TOP NEWS: Legal & General says on track to achieve five-year plan

(Alliance News) - Legal & General Group PLC on Wednesday set out a confident outlook and said it enjoyed a busy first-half of pension risk transfer dealings.

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5 Jul 2023 07:59

LONDON BRIEFING: L&G confident; Supreme wins "significant" vaping pact

(Alliance News) - Stocks in London are expected to open lower on Wednesday, as investors assess weaker Chinese economic data, and look ahead to the release of the latest US Federal Reserve meeting minutes.

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30 Jun 2023 10:59

UK life insurers' exposure to Thames Water is 'minimal', Citi says

(Sharecast News) - Analysts at Citi pointed out on Thursday that the UK life insurance sector's direct exposure to Thames Water was "minimal".

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20 Jun 2023 08:33

Lab crunch: British science has nowhere to go

OXFORD, England, June 20 (Reuters) - For Ros Deegan, the thrill of raising $100 million to expand a biotech firm among the dreaming spires of Oxford was soon tempered: unable to find a bigger laboratory, she routinely had to work at home.

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15 Jun 2023 17:15

UK's FTSE 100 rises on energy boost; Informa jumps

ECB raises rates by an expected 25 bps

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15 Jun 2023 11:12

Legal & General new CEO has "hard act to follow" after Wilson's tenure

(Alliance News) - Legal & General Group PLC on Thursday named its new chief executive, but Antonio Simoes has a "hard act to follow."

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15 Jun 2023 09:15

Legal & General hires Santander's Antonio Simoes as CEO

Simoes will join the company on Jan. 1, 2024

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15 Jun 2023 09:10

Santander appoints Castro e Almeida to drive growth in Europe

MADRID, June 15 (Reuters) - Santander said on Thursday it has appointed Pedro Castro e Almeida as regional head for Europe as the Spanish bank bets on this region to drive growth.

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15 Jun 2023 09:00

TOP NEWS: Santander head of Europe to join Legal & General as CEO

(Alliance News) - Legal & General Group PLC on Thursday said Banco Santander SA's regional head of Europe, Antonio Simoes, will join the company as chief executive officer.

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15 Jun 2023 07:52

Santander appoints Pedro Castro e Almeida as Europe's regional head

MADRID, June 15 (Reuters) - Spain's Santander on Thursday announced it appointed Pedro Castro e Almeida as regional head for Europe, replacing Antonio Simoes, who was hired to head Britain's Legal and General Group.

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15 Jun 2023 07:40

Legal & General appoints António Simões as CEO

(Sharecast News) - Legal & General said on Thursday that it has appointed António Simões as chief executive officer.

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6 Jun 2023 12:17

LONDON MARKET MIDDAY: FTSE 100 underwhelms as BP and Shell fall

(Alliance News) - Stock prices in London were lower at midday on Tuesday, with the FTSE 100 hurt by share price falls for oil majors, while a less than stellar reading of the UK retail sector kept a lid on sentiment.

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5 Jun 2023 10:39

Watkin Jones announces forward sale of development in Belfast

(Alliance News) - Watkin Jones PLC on Monday announced the forward sale of Loft Lines, a development site in Belfast, to life insurance and financial services provider Legal & General Group PLC and the Clanmil Housing Association.

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26 May 2023 18:17

Glencore's shareholder opposition to climate report grows

LONDON, May 26 (Reuters) - Just over 30% of Glencore's investors rejected the company's climate progress report at its annual meeting on Friday, demanding more clarity on how the global miner will meet its commitments to cut emissions.

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26 May 2023 16:16

Glencore's shareholder opposition to climate report grows

LONDON, May 26 (Reuters) - Just over 30% of Glencore's investors rejected the company's climate progress report at its annual meeting on Friday, demanding more clarity on how the global miner will meet its commitments to cut emissions.

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