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AV. Aviva Plc

455.50
3.10 (0.69%)
17 Apr 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Stock Type
Aviva Plc AV. London Ordinary Share
  Price Change Price Change % Share Price Last Trade
3.10 0.69% 455.50 16:35:25
Open Price Low Price High Price Close Price Previous Close
451.00 450.00 459.40 455.50 452.40
more quote information »
Industry Sector
LIFE INSURANCE

Aviva AV. Dividends History

Announcement Date Type Currency Dividend Amount Ex Date Record Date Payment Date
15/11/2023FinalGBP0.22311/04/202412/04/202423/05/2024
09/11/2022InterimGBP0.11124/08/202325/08/202305/10/2023
09/11/2022FinalGBP0.20730/03/202331/03/202318/05/2023
02/03/2022InterimGBP0.10318/08/202219/08/202228/09/2022
02/03/2022FinalGBP0.14707/04/202208/04/202219/05/2022
16/12/2020InterimGBP0.073526/08/202127/08/202107/10/2021

Top Dividend Posts

Top Posts
Posted at 15/4/2024 08:26 by 1robbob
Share Buy-back update
As at 12th April

Total Shares purchased: 27.1m
Total cost of shares purchased: £131.0m
Average cost of shares purchased: 483.3p
% of Buy-back completed: 43.7%

Saved cost of Final Dividend: £5.1m

Assuming a total dividend cost of £960m for 2024
the total dividend per share will be 35.39p (+5.95% on 2023)
Posted at 08/4/2024 09:02 by 1robbob
Share Buy-back update
As at 5th April

Total Shares purchased: 20.0m
Total cost of shares purchased: £97.2m
Average cost of shares purchased: 485.42p
% of Buy-back completed: 32.4%

Saved cost of Final Dividend: £4.29m

Assuming a total dividend cost of £960m for 2024
the total dividend per share will be 35.3p (+5.68% on 2023)
Posted at 14/3/2024 09:48 by tuftymatt
Upgrades today suggest many think there is more to come well above 500.

Still offering a very high dividend too even at these prices so there is still plenty on offer from AV. in my opinion. I hold at a very good average but am happy to add more on any small pullback especially with the divi not that far away.

Good luck all 👍🏻
Posted at 07/3/2024 17:23 by yump
I don't get it. Why would anyone buy AV as a growth stock ? If you want it for taking consistent dividends, then you'd never sell on a rise anyway and you wouldn't buy on falls, unless you just want that as insurance against iffy years, which is at least a strategy.

There are (and have been) very few stocks that can pay 5+% dividends reliably and also have cash left over for growing earnings in some way. You takes your choice etc.

The main risk is some sort of structural or company specific problem, as with INTU (shopping centres dying) or CLLN (no margin) or (I hope) temporarily with some REITs.

Rather than worrying about the share price rising, I'm just on the lookout for those problems that might reduce dividends and make a business unattractive from that point of view and from a growth point of view - which pretty much kills them off for years if not completely.
Posted at 07/3/2024 07:01 by skinny
Strong 2023 results with continued profitable growth momentum

• Group operating profit‡,1 up 9% to £1,467m (20222: £1,350m).

• Solvency II operating own funds generation‡ (Solvency II OFG) up 12% to £1,729m (20223: £1,540m), which included a £208m initial benefit from two partnership extensions in IWR. Solvency II OFG excluding management actions and other up 28%.

• Solvency II operating capital generation‡ (Solvency II OCG) up 8% to £1,455m (20223: £1,352m).

• Solvency II return on equity‡ 14.7% (20223: 9.9%).

• Cash remittances‡ of £1,892m up 3% (2022: £1,845m).

• General Insurance premiums‡,5 up 13%6 to £10,888m (2022: £9,749m). Undiscounted COR‡ of 96.2% (20222: 95.2%) and discounted COR of 92.7% (2022: 94.3%).

• Insurance, Wealth & Retirement (IWR) operating value added‡ up 13% to £1,849m (2022: £1,635m).

• Baseline controllable costs‡,7 down 1% at £2,734m, more than offsetting inflation. Our continued focus on cost efficiency has enabled us to deliver our £750m cost reduction target a year early.

• IFRS profit for the year8 of £1,106m (20222: loss of £1,030m).



New share buyback and upgraded dividend guidance

• Solvency II shareholder cover ratio‡ of 207% (2022: 212%) and centre liquidity‡ (Feb 24) of £1.9bn (Feb 23: £2.2bn).

• As part of our programme of regular and sustainable capital returns we are commencing a new share buyback programme of £300m immediately, taking the total amount of capital returns and dividends paid to shareholders to more than £9bn over the last three years. Our preference remains to return surplus capital regularly and sustainably to shareholders.

• Final dividend per share of 22.3 pence (2022: 20.7 pence) giving a total dividend per share of 33.4 pence (2022: 31.0 pence), up 8%.

• In light of the significant progress we have made and our confidence in Aviva's future, we are upgrading our dividend guidance and we now expect to grow the cash cost of the dividend by mid-single digits9.



Continued trading performance

• UK&I General Insurance premiums‡,5 up 16% to £6,640m (2022: £5,740m) and undiscounted COR‡ of 96.8% (20222: 96.4%). UK personal lines premiums grew 24% driven by strong rate discipline in the inflationary environment and new propositions. UK commercial lines premiums grew 10% due to rate actions and new business growth.

• Canada General Insurance premiums‡,5 up 10%6 to £4,248m (2022: £4,009m) and undiscounted COR‡ of 95.3% (20222: 93.7%). We saw excellent growth of 13%6 in commercial lines and 9%6 in personal lines driven by rate increases and strong new business growth.

• Protection and Health sales5 were up 16% driven by strong growth in Health, up 41%, and Individual Protection. Value of new business on an adjusted Solvency II basis (VNB)‡ was 3% lower as the impact of interest rate increases more than offset the growth in sales.

• Wealth continued to show resilience in challenging market conditions with net flows‡ of £8.3bn (2022: £9.1bn) representing 6% of opening Assets under Management (AUM)‡. AUM grew 15% to £170bn (31 December 2022: £147bn).

• Retirement sales5 were up 14% to £7,088m (2022: £6,238m) driven by £5.5bn of Bulk Purchase Annuity (BPA) transactions and increased demand for Individual Annuities in a higher interest rate environment. VNB‡ was up 9% to £286m (2022: £264m).

• Aviva Investors is a core enabler of growth for the Group. In 2023, it originated £2.6bn of real assets for our annuities business, and over 60% of Workplace net flows‡ were into Aviva Investors.
Posted at 22/2/2024 07:39 by muscletrade
Not Fresh news here but well worth a read nonetheless...High-yielding Aviva
AV
shares have been flagged for a potential re-rating as the UK’s life insurance sector moves back into favour after nearly a decade in the doldrums.

Bank of America’s upgrade to a “Buy” recommendation comes with Aviva’s forecast yield the third highest in its coverage of more than 25 European insurers.

Based on its estimates for 2024, the shares yield dividend income of 8.4% and an all-in figure of 11% when including £300 million of annual share buybacks.

Even at the bank’s new price target of 490p, Aviva shares offer a 7.7% dividend yield compared to the sector-average 5.3%. The shares were today at 446p, broadly where they stood a year ago.

The bank’s note to clients praised the operational performance of a “more focused, disciplined” Aviva under the leadership of chief executive Amanda Blanc.

Since taking the helm in 2020, she has streamlined the business behind life and general insurance operations in the UK and property and casualty lines in Canada.

Annual results on 7 March are due to show operating profit growth within the company's 5-7% guidance range, despite challenges caused by inflation and weather-related claims.

Aviva has already flagged a dividend cost of about £915 million in 2023, the equivalent to about 33.4p a share when including a forecast final dividend of 22.3p. It then intends to grow the pay-out distribution in the region of low-to mid-single digits.

However, the lower number of shares in circulation due to annual buybacks means Bank of America sees Aviva delivering 7.3% annual dividend growth at a cost rising 4.5% a year.

Despite the progress made in recent years, the shares trade on 9.2 times 2025 earnings. At the bank’s new target price, a multiple of 10.5 times compares with the sector’s 9.7 times.

The bank said: “We think payment of the final dividend and start of the buyback (both due over the coming three months) should act as catalysts for the stock and can support re-rating.”

It added that Aviva's operational story is now a non-controversial one, and that the company should be able to deliver steady earnings growth in the UK and Canada.

The bank added: “The UK will benefit from a golden-age for the bulk annuity market, steady growth in UK protection, steady growth in UK workplace and retail savings, and strong franchises in UK and Canadian personal and casualty lines.”

In addition, sentiment in the UK life insurance sector appears to be brightening after nearly a decade blighted by low interest rates and Brexit headlines.

The uncertain economic backdrop and an inverted yield curve, where long-term interest rates are below short-term rates, have kept UK life stocks out of fashion. The transition to IFRS17 accounting standard has also been unhelpful.

The bank added: “With our strategists pointing towards a yield curve normalisation over the coming year, we think this suggests an attractive entry point for Aviva.”

A week ago, UBS upgraded its price target to 515p and said there looked to be an upside risk to the insurer’s cash generation target for the period of 2024-26.

interactive investor has just teamed up with experts at eyeQ who use artificial intelligence, macro factors and their own smart machine to generate actionable trading signals. Here’s what they say about Aviva:

“Aviva is trading off big-picture conditions as well as company news. Macro relevance is currently 80% on eyeQ’s strategic long-term model (above 65% means the macro environment is critical, so any valuation signals carry strong weight).

“The latest share price rally has taken the insurer 3.9% above where macro conditions say it ‘should’ trade. That’s not quite a big enough Fair Value Gap (difference between our model value (fair value) and where the price currently is) to trigger a signal on eyeQ’s AI framework. We need to see more like a 5% premium for that.

“But it is worth contrasting with Legal & General Group
LGEN
0.58%
, which is also a macro play (84% relevance) and which screens as 2% cheap to the big-picture environment. There may be solid company fundamental reasons for the discrepancy, but it is worth noting the divergence between the two from a purely macro perspective.”
Posted at 13/2/2024 12:25 by muscletrade
Analysts at Goldman Sachs initiated coverage on investment manager M&G with a 'buy' rating and 240.0p target price on Tuesday, stating it had "attractive growth, capital returns, and valuation".

Not Aviva but there are enough of us on here that are also invested in MNG (who would rather not be involved in the thread over there).

Goldman Sachs noted that M&G operates three main segments - Asset Management, M&G Wealth, and Heritage. It said these were interconnected and, in its view, provide "attractive synergies".

"M&G is an asset manager with a large balance sheet which allows the firm to seed assets and helps to drive inflows, while also generating sufficient capital to cover its dividend and deleverage over time," said the analysts.

GS also highlighted that M&G trades on a 10.3% one-year average next twelve-month dividend yield, higher than the UK life peer average of 8.9%.

"This discount is unjustified in our view given M&G’s diversified business mix, the quality of PruFund, leverage reduction and capital-light growth potential," said Goldman.
Posted at 22/1/2024 17:58 by bonzo1975
The next Aviva dividend will be declared on 07-Mar-2024.This Aviva dividend will be the 2023 final dividend with an ex-dividend date of 11-Apr-2024 and a dividend payment date of 23-May-2024.
Posted at 02/1/2024 19:49 by yf23_1
I think you should be looking at the yield ratios between AV. and the prefs. The yield on AV. should be less than that on the prefs as it should encompass some future growth in divs.
So either the prefs are overrated (unlikely, as 30 yr gilts are 4.1 %) or the market is expecting a cut in dividends in future....

or AV.is a screaming buy !
Posted at 15/12/2023 01:28 by pj84
cjac39 I hope you don’t take my post as trying to diminish your clearly superior knowledge of the detail of insurance companies and I am happy to admit I have never worked in the insurance industry and whilst I have some knowledge of how difficult it is to become an actuary as my brother went down that route and as you suggest andyble also has a lot of knowledge in that area as well. So, I do appreciate both yours and andyble’s posts but andyble’s resonated with my own thinking at the current time.

I agree it isn’t all as simple as my post suggests and normally I would describe myself as a value investor, which as I am sure you know, means I focus primarily on a bottom up approach on a company’s fundamentals and whilst that normally includes a lot of good quality dividend paying companies it can also mean growth companies that don’t pay dividends and for both types of value, there are dividend paying companies that are value traps and growth companies that appear to have great growth prospects that don’t materialise and I have been caught out by both.

Usually, shares are affected by two main forces, the macro environment with interest rates rising or falling or boom or bust in the economy generally causing all boats to rise or fall to a greater or lesser extent and then the individual company effects which ultimately affect the individual share in the long term (the oft quoted voting and weighing analogy). So usually, the individual companies results finally determine a share’s price movements but unusually that relationship appeared to have broken down over the past couple of years with not only insurance companies but quite a number of high quality dividend paying companies.

Usually, dividend yields of more than say 4% indicated the market expected a dividend cut or an impending fall in profits, so the yield was illusory. And it appears that despite the fundamentals of insurance companies and other high quality dividend paying companies, the fundamentals where no longer asserting themselves and the macro forces of higher interest rates have dominated share prices and for that reason, I am hopeful of things now improving with the prospect of interest rates about to fall despite what the Bank of England are currently saying and I believe they will again be behind the curve on the way down as they were on the way up.

The other major factor has been UK pension funds etc. moving form being major holders of UK shares to a now almost non-existent holding. But history tells us that things look darkest before the dawn and when the last seller has sold that is when the market turns, and UK pension funds no longer have any more shares to sell. So I am hopeful that the turnaround for most good quality high dividend paying companies has now started.

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