The Chesnara plc Board has recommended a 3% increase in the final dividend to 16.1p per share. Total dividend for FY 2024 of 24.7p per share. The recommended dividend is expected to be paid on 20 May 2025. The ordinary shares will be quoted ex-dividend on the London Stock Exchange as of 3 April 2025. The record date for eligibility for payment will be 4 April 2025.
Other Financial Highlights Include:
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Cash Generation of £60m (FY 2023: £52m) grew by 14%, providing strong coverage of 1.60x (FY 2023: 1.45x) against the full year dividend
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Solvency Coverage Ratio of 203% (FY 2023: 205%) remained above the upper-end of the Group's operating range of 140% - 160%, providing significant flexibility to allocate capital to M&A and other investment opportunities
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Economic Value (EcV) Earnings of £69m (FY 2023: £59m) grew by 17% supporting growth in the Group's EcV per share to 352p (FY 2023: 348p) after dividend payments
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IFRS pre-tax profits increased to £21m (FY 2023: £2m); with IFRS pre-tax Contractual Services Margin (CSM) growing to £176m (FY 2023: £157m), increasing the store of future value from the Group's insurance portfolio
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New Business Contribution was stable at £9m (FY 2023: £10m)
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Ongoing M&A momentum with announcement of Canada Life portfolio transfer in December 2024, adding £11m of EcV which was £3m higher than previously announced
