Phoenix Group PLC have recommended a final dividend of 24.1p per share reflects a 3% increase on the 2020 interim dividend (23.4p per share) and equates to a 2020 full year dividend of 47.5p per share (2019: 46.8p per share).
Other financial highlights include:
Record incremental Open new business long-term cash generation of £766m in 2020, a 59% year-on-year increase (2019: £483m), and close to achieving the >£800m new business threshold that would fully offset the in-force run-off.
Retirement Solutions (BPA) new business long-term cash generation increased 122% year-on-year to £522m (2019: £235m) with the external deal capital strain reducing from 9% in 2019 to 8% in 2020.
Group operating profit of £1,199m in 2020 inclusive of the ReAssure business (2019: £810m).
Assets under administration of £338bn as at 31 December 2020 (31 December 2019: £248bn).
