The Legal & General Board has declared an interim dividend of 5.18p, up 5% from the prior year (4.93p). This is consistent with our stated ambition to grow the dividend at 3-6% per annum between 2021 and 2024.
Going forward, the Board intends to adopt a formulaic approach to the dividend whereby the interim dividend grows by the same percentage as the total dividend for the prior year.
Other financial highlights include:
Operating profit of £1,079m, up 14% (H1 2020: £946m), with double-digit growth or higher in LGC, LGI and LGRR
Earnings per share of 17.78p, up 21% on H1 2019 (14.74p) and up significantly on H1 2020 (4.89p)
Profit after tax of £1,065m (H1 2020: £290m) and Return on equity of 22.0% (H1 2020: 6.3%)
Solvency II coverage ratio of 183% (H1 2020: 173%)
