Last checked at 3 Apr 2020 16:49
Legal & General confirms its current intention to pay final 2019 dividend
The Board of Legal & General plc has given careful consideration to the PRA's letter of 31 March.
The Board continues to pay close attention to the need to protect its customers and employees at this difficult time. The Board has carefully considered the need to act prudently in maintaining safety and soundness, and in so doing ensure that Legal & General plays its full part in supporting the real economy. It also recognises the importance of dividend income to many institutional and retail shareholders, particularly in the current environment.
The Board observes that, notwithstanding significant market volatility, the Group's Solvency position remains robust.
Whilst the Board will continue to monitor events, its current intention is to confirm its previous recommendation for a final dividend of 12.64p (2018: 11.82p) giving a full year dividend of 17.57p (2018: 16.42p), 7% higher than 2018.
Notes to editors
Legal & General Group Plc
Established in 1836, Legal & General is one of the UK's leading financial services groups and a major global investor, with international businesses in the US, Europe, Middle East and Asia. With £1.2 trillion in total assets under management (as of 31 December 2019), we are the UK's largest investment manager for corporate pension schemes and a UK market leader in pension risk transfer, life insurance, workplace pensions and retirement income. As at 2 April 2020, Legal & General has a market capitalisation of £10.0 billion.
Forward-looking statements
This announcement may contain certain forward-looking statements relating to Legal & General, its plans and its current goals and expectations relating to future financial condition, performance and results. By their nature, forward-looking statements involve uncertainty because they relate to future events and circumstances which are beyond Legal & General's control, including, among others, UK domestic and global economic and business conditions, market-related risks such as fluctuations in interest rates and exchange rates, the policies and actions of regulatory and Governmental authorities, the impact of competition, the timing impact of these events and other uncertainties of future acquisitions or combinations within relevant industries. As a result, Legal & General's actual future condition, performance and results may differ materially from the plans, goals and expectations set out in these forward-looking statements and persons reading this announcement should not place reliance on forward-looking statements. These forward-looking statements are made only as at the date on which such statements are made and Legal & General does not undertake to update forward-looking statements contained in this announcement or any other forward-looking statement it may make.
Further information
Investors
Edward Houghton Head of Investor Relations +44 (0)7585 905799
Alyssa Manning Investor Relations Director +44 (0)7500 127155
Sujee Rajah Investor Relations Director +1 312 964 3034
Media
John Godfrey Corporate Affairs Director +44 (0)1989 750131
Graeme Wilson Tulchan Communications +44 (0)7720 414235
Sheebani Chothani Tulchan Communications +44 (0)7805 011046