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AV. Aviva Plc

494.30
-0.40 (-0.08%)
21 May 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
-0.40 -0.08% 494.30 16:35:05
Open Price Low Price High Price Close Price Previous Close
492.90 489.30 494.20 494.30 494.70
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 20/5/2024 08:33 by 1robbob
Share Buy-back update
As at 17th May

Total Shares purchased: 39.8m
Total cost of shares purchased: £189.6m
Average cost of shares purchased: 476.36p
% of Buy-back completed: 63.2%

Saved cost of Final Dividend: £5.1m

Assuming a total dividend cost of £960m for 2024
the total dividend per share will be 35.56p (+6.45% on 2023)
Posted at 16/5/2024 14:26 by 1robbob
pOpper
Absolutely nothing wrong with AV.
My concerns are; how long will AB be in post? and an inevitable downturn in the GI underwriting cycle?
....perhaps the new CEO of LGEN is about to embark on a similar 'programme' as AB did so successfully at AV...we will find out when he outlines his strategy on 12th June
Posted at 14/5/2024 19:03 by carpingtris
cjac39 - out of interest are you still a holder of AV. ?

All this talk of car insurance and whether the cover etc will still be the same/required going forwards... well it will because of the value vs thefts and you still get fires?

AV. Is more than just car insurance and perhaps the real money is in health instead as clearly the NHS isn't sustainable in it's current form.
Posted at 09/5/2024 17:08 by pj fozzie
Regarding Tax, have you looked at VCTs. I've had a chunk of money in the Albion VCT family for a number of years. You get 30% tax refund on initial purchase and then any subsequent gains and dividends are tax free. The huge negative is low liquidity - but since I've never actually tried to sell any, then I'm not sure how it works. I put in 30K about 10 years ago. Got 9K taken off my income tax that year. Currently the annual dividend yield is £1734, which is tax free. Current value of VCTs is about £35K. Before I retired, I was reinvesting the dividends (claiming back 30% of the value via tax return, as I was buying new shares). After retirement I took divs as income. Be aware - you have to hold for five years before you sell, or else you loose the tax rebate.

Cheers,
Fozzie
Posted at 29/4/2024 12:53 by 1robbob
Fenners66

I am currently suggesting 35.52p per share for 2024 not 35.2p

The BOD have already stated that the total cost of the dividend for 2024 'will rise by mid single digit percentage over 2023'. Thus I have assumed that the total cost for 2024 will be £960m ie +5% on 2023s £915m

Currently the outstanding equity is 2.702bn. Thus as of today the total dividend for 2024 will be 35.52p per share

However, this will be a conservative estimate as the Share Buy back will continue to reduce the amount of equity outstanding

My guess is that the total dividend for 2024 will be circa 35.75p per share after completion of the share buyback, +7% over 2023
Posted at 29/4/2024 08:41 by 1robbob
Share Buy-back update
As at 26th April

Total Shares purchased: 37.27m
Total cost of shares purchased: £177.5m
Average cost of shares purchased: 476.34p
% of Buy-back completed: 59.2%

Saved cost of Final Dividend: £5.1m

Assuming a total dividend cost of £960m for 2024
the total dividend per share will be 35.52p (+6.35% on 2023)
Posted at 22/4/2024 08:59 by 1robbob
Share Buy-back update
As at 19th April

Total Shares purchased: 35.1m
Total cost of shares purchased: £167.6m
Average cost of shares purchased: 477.3p
% of Buy-back completed: 55.9%

Saved cost of Final Dividend: £5.1m

Assuming a total dividend cost of £960m for 2024
the total dividend per share will be 35.49p (+6.27% on 2023)
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 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.”

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