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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Aviva Plc | AV. | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 4.30 | 0.88% | 492.70 | 16:35:27 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 487.30 | 486.40 | 493.30 | 492.70 | 488.40 |
| Industry Sector |
|---|
| LIFE INSURANCE |
| Announcement Date | Type | Currency | Dividend Amount | Ex Date | Record Date | Payment Date |
|---|---|---|---|---|---|---|
| 15/11/2023 | Final | GBP | 0.223 | 11/04/2024 | 12/04/2024 | 23/05/2024 |
| 09/11/2022 | Interim | GBP | 0.111 | 24/08/2023 | 25/08/2023 | 05/10/2023 |
| 09/11/2022 | Final | GBP | 0.207 | 30/03/2023 | 31/03/2023 | 18/05/2023 |
| 02/03/2022 | Interim | GBP | 0.103 | 18/08/2022 | 19/08/2022 | 28/09/2022 |
| 02/03/2022 | Final | GBP | 0.147 | 07/04/2022 | 08/04/2022 | 19/05/2022 |
| 16/12/2020 | Interim | GBP | 0.0735 | 26/08/2021 | 27/08/2021 | 07/10/2021 |
| Top Posts |
|---|
Posted at 24/6/2024 08:53 by 1robbob Buy-Back: Only £16m to goShare Buy-back update As at 21st June Total Shares purchased: 59.51m Total cost of shares purchased: £284.11m Average cost of shares purchased: 477.44 % of Buy-back completed: 94.71% Saved cost of Final Dividend: £5.1m Assuming a total dividend cost of £960m for 2024 the total dividend per share will be 35.816p (+7.23% on 2023) |
Posted at 17/6/2024 07:43 by 1robbob Buy-back could be completed this week. Under £25m to goShare Buy-back update As at 14th June Total Shares purchased: 57.64m Total cost of shares purchased: £275.2m Average cost of shares purchased: 477.51 % of Buy-back completed: 91.74% Saved cost of Final Dividend: £5.1m Assuming a total dividend cost of £960m for 2024 the total dividend per share will be 35.79p (+7.16% on 2023) |
Posted at 16/6/2024 08:04 by masurenguy Thanks for that link Lauders. As a shareholder I think that the two most salient points extracted from the commentary are as follows:* "Consensus expects around 20% growth in EPS this year, moderating to 12% in 2025, hence at 470p the forward PE ratio is 10.5, easing to 9.3. Dividing the PE ratio by the expected earnings growth rate derives a “PEG” ratio of 0.5, rising to near 0.8 when investment value supposedly exists below 1.0. Aviva is recovering from an earnings trough and is yet to achieve its 2019-21 earning power. The table does not suggest a consistent growth company, hence the PEG does not properly apply. It so happens that cost-cutting is aiding a profit advance while annuities are selling well." * "At around 470p, the prospective dividend yield is 7.5%, rising to 8.0% assuming a dividend of around 37.5p in respect of this year, rising to 38p for 2025, and covered 1.3 times by earnings both years. Aviva’s operational cash flow record is lumpy (see table) but this is a fundamentally low-capital expenditure business conducive to shareholder returns. Expect around near 10% dividend growth as consensus for 2025. Aviva’s prospective yield is no less than it was in March 2020, yet its operations are better-streamlined and cost-effective." |
Posted at 10/6/2024 08:25 by 1robbob Share Buy-back updateAs at 7th June Total Shares purchased: 52.91m Total cost of shares purchased: £252.9m Average cost of shares purchased: 478.05p % of Buy-back completed: 84.32% Saved cost of Final Dividend: £5.1m Assuming a total dividend cost of £960m for 2024 the total dividend per share will be 35.73p (+6.97% on 2023) |
Posted at 03/6/2024 09:12 by 1robbob Share Buy-back updateAs at 31st May Total Shares purchased: 48.09m Total cost of shares purchased: £229.9m Average cost of shares purchased: 478.05p % of Buy-back completed: 76.63% Saved cost of Final Dividend: £5.1m Assuming a total dividend cost of £960m for 2024 the total dividend per share will be 35.66p (+6.78% on 2023) |
Posted at 01/6/2024 15:15 by xtrmntr From IC.Ten years ago, Aviva was a sprawling group of insurance businesses, a legacy from its days of expansion through bolt-on acquisitions. In 2015, then chief executive Mark Wilson set up an umbrella group to cross-sell between the group's life and general insurance product lines. His big idea was to harness technology to drive the business forward.The new team was set up not in an office block, but in an old garage in London's Hoxton Square, and so became known as the "technology garage". It developed "MyAviva", so that all of a customer's policies could be viewed in one place. Analysing the data enabled finer pricing to reward customers for the breadth and depth of their Aviva relationship, out of which AvivaPlus emerged a promise never to charge Aviva customers more for their policies than new customers. Another part of the technology garage was an innovation team, set up to identify emerging trends and launch new concepts.This was a long-term strategy, the sort that investors support, but the short-term costs were high. Dramatic returns were promised, but after a while, shareholders began to have doubts. That's the problem with jam tomorrow unless investors can see tangible value emerging, they begin to wonder whether tomorrow will ever come. This must have produced some frank discussions in the boardroom. In October 2018, Wilson left rather quickly.Sir Adrian Montague, who had been chairing the group as a non-executive, temporarily covered both roles. The search for a new chief executive was extensive, but they eventually chose from within. Maurice Tulloch had been with Aviva for over 25 years and was seen to be a safe pair of hands. A few months later, with the succession sorted out, Montague reached the end of his tenure and bowed out.In March 2019, Tulloch told shareholders that he aimed to increase return on investment. After so much emphasis on the technology garage, this was music to analysts' ears. Tulloch restored the dividing line between Aviva's general (home and motor) insurance and life insurance divisions. It went back to seeming like business as usual.Despite his back-to-basics approach, progress was sluggish. In his earlier role, Tulloch had been responsible for the speciality business, together with the life and general ones in France, Canada, Ireland, Italy, Poland, Turkey and India. Some were now calling for the group to be broken up. Instead, he restructured Aviva into five divisions with a promise of greater cash generation and an increased dividend. He also put the group's Singapore and China businesses up for sale, but this was just as the pandemic began to dampen confidence, and only low offers came in. The sale was pulled, but the lockdowns continued to squeeze cash out of the business. The 2019 final dividend had been announced but had to be withdrawn. The share price slumped from more than 400p pre-Covid to under 250p. Critics thought that he should have seen all this coming. They asked where the strategy was to reinvigorate the group.Meanwhile, the boardroom had a new clutch of directors. In the same year that Montague retired, four other non-executives left as well, so by the time George Culmer began chairing the group in late May 2020, many on the board were new. Having a new boss brings risks for any employee. Those who select candidates have a vested interest in seeing them succeed. They make allowances and tend to give them the benefit of the doubt. New bosses are often more critical and inclined to justify their new position by making changes. On 6 July 2020, just five weeks after Culmer took up the reins, Tulloch left "for family health reasons". He'd been chief executive for little over a year.One of the new non-executive directors was Amanda Blanc. She stepped seamlessly into the chief executive role. She would bring a renewed focus, she said, and that was how she'd increase returns.It took a while for her 'focus' to shine through. With lacklustre half-year financials in mid-2021, she promised better operational efficiency and pledged to return at least £4bn to shareholders over the next year through buybacks and dividends. She kept her word, and by the end of 2021, a total of eight businesses had been sold to raise £7.5bn, and other non-core operations followed. The slimmed-down Aviva has since added some small strategic acquisitions and the group is now concentrated in the UK, Ireland and Canada.The big unknown with recruitment is that, however much vetting is done, nobody can be certain about how well the successful candidate will take to the role until after they've started. With the low-hanging fruit plucked, only the future will tell whether Aviva is back on track, but there's no doubt that it's gone through some difficult but decisive succession planning which is why it's important for non-executive directors to maintain independent and open states of mind. |
Posted at 28/5/2024 13:43 by 1robbob Share Buy-back updateAs at 24th May Total Shares purchased: 44.1m Total cost of shares purchased: £210.5m Average cost of shares purchased: 477.74p % of Buy-back completed: 70.2% Saved cost of Final Dividend: £5.1m Assuming a total dividend cost of £960m for 2024 the total dividend per share will be 35.61p (+6.62% on 2023) |
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 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-yAV 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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