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Legal & General boost dividend 20% on strong profit

Publish Date06/03/2013 09:31:24 AM

Last Update06/03/2013 09:31:42 AM

Legal & General boost dividend 20% on strong profit

Legal and General Group plans to raise dividend by 20 percent in 2012 after profit and cash flow grew last year, boosted mainly by the increasing demand for retirement products in the United Kingdome.

Full year dividend will reach 7.65 pence a share from 6.4 pence per share in 2011 beating 7.43 pence estimated by analysts, while operating profit rose 3 percent to 1.1 billion pounds in 2012.

The London-based insurer said that net cash climbed 2 percent to 865 million pounds, while sales of savings products edged up by 15 percent to 1.5 billion pounds and individual annuities also rose 26 percent to 132 million pounds.

As of 04:07 ET, Legal & General Group PLC share rose 1.48 percent or 2.400 points to 165.100 pound.


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