Legal & General Dividends - LGEN

Legal & General Dividends - LGEN

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Stock Name Stock Symbol Market Stock Type Stock ISIN Stock Description
Legal & General Group Plc LGEN London Ordinary Share GB0005603997 ORD 2 1/2P
  Price Change Price Change % Stock Price Last Trade
-10.40 -3.86% 259.30 16:35:19
Open Price Low Price High Price Close Price Previous Close
263.40 258.00 266.70 259.30 269.70
more quote information »
Industry Sector

Legal & General LGEN Dividends History

Announcement Date Type Currency Dividend Amount Period Start Period End Ex Date Record Date Payment Date Total Dividend Amount

Top Dividend Posts

williamcooper104: Legal & General: An Attractive Dividend Choice Yielding Over 6%
cordwainer: On second thoughts I'm musing that time and a growing divi are already a given and there should actually be a reason why LGEN should top £3. Stock and sector rotation for example ahead of easing covid restrictions and post-Brexit stabilisation ? although I can't fathom the mechanics there of LGEN being a significant direct or indirect beneficiary. Should be a reasonably safe place for people to park their exuberence profits from the likes of ITM and CWR for now.
geardown107: LGEN sold their general insurance business to Allianz back in 2019, no exposure to Covid business cover.Will be hit by poor sentiment, but not out of the coffers.What we thinking for next dividend? 10p is my guess
williamcooper104: Apollo has done exceptionally well out of Athene - so a big US GP could have a pop - which of course wouldn't be a disaster from our perspective LGEN is growing it's US business but it's cash much a U.K. business - so if UK is toast then LGEN takes a huge kick In fact LGEN stepped up their investment in the U.K. post 2016 (house building/Build to Rent is a big contributor to profitsnow) - and they've done well out of that as Brexit prevented U.K. assets from fully pricing in QE infinity - LGEN hoovered up ground leases on yields that are now higher on what you would get from a prime Paris/Berlin office
skinny: L&G announces new dividend, cash&capital ambitions. Legal & General announces new 5 year dividend, cash and capital ambitions Legal & General Group Plc ("Legal & General") will host a virtual capital markets event for investors and analysts today, Thursday 12 November. Presentations on the Group's strategy, financial performance and ambitions will be made available on the Group's website from 7am GMT: A live Q&A teleconference with Legal & General's executive management team will be held at 10am GMT: +44 20 3936 2999 / +1 855 9796 654 (access code: 641392). 2020 Trading Update The Group's ambition remains for full year 2020 operating profit to be broadly in line with 2019 (2019: GBP2.3bn [1] ). Legal & General has delivered a resilient performance in the year to date. [2] Our balance sheet has remained robust, with the Group's solvency ratio currently in the mid-170s (%), slightly up from H1 20 (173%). Our annuity asset portfolio has performed well against a challenging market backdrop. The traded portfolio has experienced no defaults, and just 0.8% of net downgrades to sub-investment grade compared to around 1.7% for the index. The direct investment portfolio has also experienced no defaults and received 99.5% of scheduled cash flows. Our market leading businesses have continued to trade well, notwithstanding the wider macro-economic environment. -- Legal & General Retirement Institutional ("LGRI") - the PRT market has remained very active in 2020. In the UK we have written GBP4.7bn across 36 transactions year to date, and have another GBP1.7 billion in exclusive negotiations which we expect to complete in 2020. The US has had a strong performance completing $1.2bn. [3] We have good visibility over future transactions and are actively quoting on a pipeline that exceeds GBP20bn. We anticipate an approximate GBP200m LGR mortality reserve release (CMI-18) at year-end. -- Legal & General Investment Management ("LGIM") - despite significant market volatility, LGIM's diversified asset base has been resilient with AUM at GBP1,234bn and GBP6.4bn of positive external net flows as at 30 September. -- Legal & General Capital ("LGC") - housing sales have recovered in the second half following the first half lockdown. As previously guided, full year residential housing sales are expected to be down 30% despite the strong second half performance. We are pleased with the progress made by Pemberton, ADV and NTR. Pemberton has now reached EUR8.5bn of committed capital. -- Legal & General Insurance ("LGI") - year to date gross written premiums in the UK and US have reached GBP1,475m, up 5% on the prior year. At the half year we set up a prudent GBP44m future claims reserve, which is significantly in excess of H1 COVID-related claims. -- Legal & General Retirement Retail ("LGRR") - continued recovery in individual annuity volumes: GBP747m year to date, down 10% year on year (but down just 2% in the second half). Lifetime mortgage advances of GBP613m, down 26% year on year. -- Additionally, we recently completed the sale of the Mature Savings business and expect to report the remaining IFRS profit on disposal of c.GBP325m in our full year results. Group Strategy and Financial Ambitions Legal & General is, primarily, a global provider of Retirement Solutions to corporates and individuals, with core skills in asset management and origination, mortality risk and technological innovation. We operate at scale, and are strongly positioned to capitalise on significant structural growth opportunities across our chosen markets. We are committed to Inclusive Capitalism and ESG, including positive Climate Change action. We are today setting out new five year financial ambitions for the Group. As 2020 is a pause year, the Board's current intention is to keep the final 2020 dividend flat. [4] From 2021 the Board intends to grow the dividend at low to mid-single digits. Over the period 2020-2024 our ambition [5] is for: -- Cash and capital generation to significantly exceed dividends* -- EPS to grow faster than dividends -- Net surplus generation (i.e. including new business strain) to exceed dividends *We intend, in aggregate, to generate GBP8.0-9.0bn both of cash and capital, and to dividend GBP5.6-5.9bn. [6] Over the next five years we expect to deliver diversified growth across the Group. LGRI and LGRR provide highly predictable, stable cash flows from their growing back-books. We expect the annuity portfolio to be fully self-financing in the next three to five years. Our asset management and origination businesses, LGIM and LGC, operate in attractive and profitable markets, and maintain a strong commitment to ESG-aligned investing. LGI is applying technology best practice to transform to sustain its UK leadership, to grow in the US and to continue to expand into adjacent markets. Nigel Wilson, Group CEO, said: "Legal & General has a clear and well established strategy, and five strong businesses with distinct competitive advantages. The markets we operate in are large and growing and we are well placed to capitalise. We have announced today a clear set of five year financial ambitions, delivering an attractive combination of income and growth. We remain ambitious for the future, and are committed to delivering profitable growth through Inclusive Capitalism and ESG."
bothdavis: 'Little or no dividend'!! Dividend yield on these is very healthy thank you very much over 9%!! Where else can you get a return like these. They will return to previous highs, once Brexit and COVID are laid to rest or just lightly bubbling!!
garycook: FAO eurofox.Legal & General (LSE: LGEN) had been doing reasonably well following the Brexit referendum shock of 2016. That vote knocked the whole financial industry for six. But the Legal & General share price was coming back. Until this year. Since the start of 2020, the shares are down 38%. That’s worse then sector rival Aviva and its 32% fall. And way worse than the overall FTSE 100, which is down 22%. Will L&G shareholders see anything to cheer any time soon? I think they will, and it could come quicker than people expect.The thing I like most about the Legal & General share price is that it represents a terrific long-term dividend investment that’s only got better. The annual payments have been progressive. And they’ve provided yields of around the 6% mark in recent years. Dividends in the financial sector have been tumbling in 2020, as companies seek to preserve capital. But LGEN is having none of that. In August, the company announced an interim dividend of 4.93p per share, “providing flexibility as the economic effect of Covid-19 becomes clearer.”Dividend commitment That’s despite a big fall in first-half profit, and for me it shows strong confidence in the firm’s future. The Legal & General share price initially responded positively to the news, but less so than I’d have hoped. And since a second wave of coronavirus infection has been raising its ugly head, the shares have slid downwards again. Maybe investors have less confidence in the insurer’s ability to maintain its dividends than the board does? At the interim stage, the firm’s liquidity looked very solid. The report described the balance sheet as robust, and L&G was able to boast a Solvency II coverage ratio of 173% — slightly better than 12 months previously. Total annuity assets were up, and assets under management were up too.Solid second-half outlook In its outlook statement, the company said “Despite Covid-19, 2020 is anticipated to be the second largest on record, with £20bn to £25bn of UK [pension risk transfer] expected to transact, demonstrating the resilience of this market.“ It added that its investment management arm “is well positioned to continue to drive net flows, and to deliver meaningful earnings growth.” And on that dividend, L&G said it “expects to maintain its progressive dividend policy reflecting the group’s expected underlying business growth, including net release from operations and operating earnings.”Legal & General share price recovery? Forecasts suggest only a modest shrinkage in EPS for the full year. That will leave enough to cover the forecast dividend almost 1.6 times. That’s not far below 2019 cover of a bit over 1.7 times, and it looks very reassuring to me in such a traumatic year. On today’s depressed share price, the dividend would yield 9.5%. And we’re looking at a P/E multiple of just 6.7. I’ve suggested that the Aviva share price could easily double in the next 12 to 24 months. I think the same is likely of the Legal & General share price too.
d94ccm: Hi all,Can someone with more knowledge than me please give me some idea how safe the LGEN dividend is? Cover when I checked was 1.8. At nearly 10% this looks like a great buying opportunity. I am typically a long term investor and am looking for the dividend as opposed to capital growth. Although somebody that is nice too. ?
pierre oreilly: Nick eh? I said i'd never bought a 9% yielding stock. So no, lgen isn't my first. You have a funny view on divis. They are, in times like this, totally uncoupled from the price. i.e. bt lloy with a current zero divi are not priced at zero, exactly the same reasoning as why lgen's divi isn't out of kilter in these exceptional times. If profits stay up, lgen will pay the same or increased divi irrespective of the share price.
nick rubens: "Looks to be loads of disposals in what's a bad time to be dumping shares," They are not LGEN's assets, rather they are managed by LGEN for a fee on behalf of others (pension funds, individual investors, unit trusts etc). If the markets drift lower then the commissions will drop a little, but that's about it, unless they loose clients also. Would LGEN own any of these companies on behalf of LGEN shareholders? That would make them an investment trust, wouldn't it?
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