M&g Plc
-2.30 (-1.26%)
Stock Name Stock Symbol Market Stock Type
M&g Plc MNG London Ordinary Share
  Price Change Price Change % Stock Price Last Trade
-2.30 -1.26% 179.65 16:35:10
Open Price Low Price High Price Close Price Previous Close
181.00 174.90 181.00 179.65 181.95
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Industry Sector

M&g MNG Dividends History

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

Top Dividend Posts

Top Posts
Posted at 09/3/2023 07:41 by skinny
Second interim dividend of 13.4 pence per share, in line with
our policy of stable or increasing dividends, with a total dividend
per share of 19.6 pence per share, up 7% year-on-year (2021: 18.3 pence per share)

Posted at 09/3/2023 07:01 by skinny

Strong capital position underpins resilient financial performance

- Operating capital generation of GBP821 million (2021: GBP1,117
million) with improved underlying capital generation of GBP628
million (2021: GBP484 million) demonstrating the resilience of
our business model offset by a lower benefit from management
- Shareholder Solvency II coverage ratio remained strong at 199%
(2021: 218%) which includes the impact of dividends, the share
buy-back (1) and the dilutive impact from the recognition of
deferred tax assets due to mark to market losses on our assets
- Adjusted operating profit (AOP) before tax of GBP529 million
(2021: GBP721 million), affected by GBP(172) million non-cash
items from duration mismatching losses in the annuity portfolio
and foreign exchange losses on our USD denominated subordinated
- Assets under management and administration decreased by GBP28
billion to GBP342 billion (2021: GBP370 billion), predominantly
driven by adverse market movements
- IFRS loss after tax of GBP1,619 million (2021: GBP92 million
profit), impacted by non-cash losses in the fair value of the
surplus assets in our annuity portfolio and derivatives used
to hedge the Solvency II balance sheet caused by increasing yields
- Second interim dividend of 13.4 pence per share, in line with
our policy of stable or increasing dividends, with a total dividend
per share of 19.6 pence per share, up 7% year-on-year (2021:
18.3 pence per share)

Positive flows and improved investment performance despite adverse market conditions

- Positive net client flows excl. Heritage of GBP0.3 billion (2021:
GBP0.6 billion) despite significant market volatility
- Wholesale Asset Management returned to net client inflows for
the first time since 2018 of GBP0.5 billion (2021: GBP3.8 billion
outflows) reflecting the measures taken to improve investment
performance - 68% of Wholesale funds now in upper two performance
quartiles over one year (31 December 2021: 45%) (2)
- Net client inflows of GBP0.2 billion (2021: GBP1.4 billion outflows)
into Wealth driven by continued operational improvements and
a strong performance from PruFund
- Roll out of PruFund-type products in Europe progressing with
the launch of Future+ in Italy and Ireland

Posted at 02/3/2023 12:43 by jubberjim
Very disappointed with reaction today no follow through on any level anywhere

Didn t understand and still don t understand Abdn being bought up on what I personally thought were nondescript results

The only positive was the retention of the dividend at 7.3 pence but as I previously intimated that falls a long way short of the promised return of funds just over a year ago

To my mind nothing has changed so will continue to eschew the dividend and remain in cash for time being

Will start buying @195 on this one in the absence of any news but remains a bear and on the sidelines

Was nice to see a bit of movement but dividend hopefully will assauge any rash buys

Good luck all

Posted at 01/3/2023 09:39 by 1jat
All companies routinely run the ruler over their competitors..and a few of these result in informal soundings and fewer progress…to firmer discussions at which point the market has to be informed.
Q is do we think MNG wants to be bought? With the new CEO in place probably not and it does make money and is well capitalised so there is no fire sale about to happen.
Does it have the firepower to take on others? The share buy back suggests they do for smaller deals, but would the shareholders agree to a larger deal or see it as value destructive for MNG?

My view is that MNG could be party to mergers where they are all share deals with low bid premium, this is to accelerate change / build scale and a more effective business.

Posted at 27/2/2023 17:01 by 1jat
Makinbucks…230;.both good points

1 The IFAs bought by MNG and others need to either become tied or need to provide a range of provider solutions to clients…..the regulators say the Firms need to be able to justify decisions to use an intragroup solution such as the admin platform or DFM solution….and the provider eg the admin platform cannot be used to subsidise internal clients….each business needs to be independently minded although of course the internal politics can stymie full independence.

2 Moneyfarm has very recently launched an App called &me (v silly name I know) for the target market you describe….investments go into discretionary portfolios of funds managed by M&G Wealth (most funds are not provided by MNG).

This is the result of the 20% stake taken by MNG in Moneyfarm.

Further details can be found in the press release dated 31/01/23 on the company website.

Posted at 27/2/2023 16:32 by makinbuks
Surely for an IFA business the clue is in the title? How could an independent service supplier be seen as "owning more of the distn chain"? If they lack true independence they will lose credibility and business.

I'd be more interested in what they're doing in the digital space to grow and own more of the distribution chain. There will be a lot of holders in MNG who have IFA's because they are retired or close to retired or at least have decent retirement pots, but the youngsters are not walking through the doors of an IFA, they are downloading apps, rounding up their spending into a savings pot, etc,etc. Thats where MNG needs to be focused

Asset management is another game entirely. I'm not against it per se but I've been through the Standard Life debacle from demutualisation to the Abdn merger and I can't see MNG creating any more value through that sort of strategy

Posted at 18/2/2023 10:44 by red ninja
Dated 30/1/23 Paid for tip site


New stock #2: 10% yield
Our second new stock is FTSE 100 asset manager M&G (LON: MNG). This business was spun out of Prudential in late 2019. It's since delivered a solid record of capital generation to support its 9.5% dividend yield.

Much of the group's surplus cash is generated by its Heritage business, which runs with-profits funds. These are closed to new business, but are expected to provide a stable earnings contribution until 2029, or possibly beyond.

Alongside this, the business has a portfolio of open savings and investment products that are marketed to retail savers and institutional clients. Assets under management totalled £349bn at the end of June last year. This included £77bn of private and alternative assets. According to the firm, the majority of these generate income from management fees rather than performance fees. This should help to reduce earnings sensitivity to market movements.

Performance during the first half of last year was cautiously encouraging, given the difficult environment. M&G's open businesses reported net inflows of £1.2bn. This included a £0.8m inflow to its wholesale business -- the first since 2018.

Most listed asset managers are looking unloved at the moment, typically for this point in the cycle. Their profits are a leveraged play on asset values -- when markets go up, both inflows and asset values rise, providing a double-barrelled boost to fee income. When markets fall, however, the opposite tends to happen.

Having said that, the 9.5% yield on offer here is still one of the highest in the sector. This suggests the market has concerns about either M&G's growth potential or the sustainability of its dividend.

In our view, the main risk is that the company's open businesses might not generate sufficient growth to offset the gradual run-off of the Heritage division. That could put the dividend at risk.

However, we're encouraged by progress made under departing CEO John Foley and feel that M&G's brand, scale, and improving asset performance provide a reasonable foundation for future growth.

Although the Income Boosters already holds another well-regarded asset manager, we feel the income available from this sector at present justifies additional exposure.

M&G has been added to the Income Boosters at 207p.

Posted at 28/10/2022 15:53 by kenmitch

I’m not sure you’ve got an open mind but if you have the following might make you think again. If you haven’t I won’t reply again as it’s a waste of time.

1. Some Companies that have bought back heavily in the past, only to realise at last that they were a huge waste of money, now go for bigger dividends and big specials on top instead. e.g RIO TINTO who paid around 20% dividend last year.

2. Though realising 20 years or so ago that buybacks were usually a waste of money, it was only in the last 3 years that I cottoned on to the big benefit of dividend investing and now my portfolio is self funding in that annual dividends now remove the need ever to invest new cash. That’s great in bear markets like the current one!

AND unlike with the zero cash received from buybacks, that free dividend income provides fresh funds every year to invest in yet more income paying shares and at zero cost. It’s a no brainer not understood by buyback fans and commentators.

3. Lord John Lee who cottoned on years ago now gets more back in dividends EVERY year than the cash he staked originally. I.e dividends alone every year are now DOUBLE or more than his total ISA investment.

4. The massive buybacks employed by US Tech shares ahead of massive share price falls are relevant. What more evidence do you need to make you question your so forthright opinions?

Not every buyback is a waste of money. The key is to recognise when they are, but that’s a separate debate.

Finally, I didn’t hold Gulf Keystone when they were buying back a few years ago. Maybe they are another example of sensible Managers realising, as you haven’t yet, that they were a waste of money? If so hence the change to extraordinarily high and frequent dividends this year.

Posted at 28/10/2022 11:32 by kenmitch
Bigger dividends don’t validate the buyback! MNG we’re paying about the current dividend before the £millions wasted on the many pointless buybacks since. That money could have been used to help sustain that level of dividend. That’s far better use of cash than throwing it away! I’m very happy with the dividend yield anyway.
Posted at 30/8/2022 10:23 by rocketblast
MnG Looks like 220 as market shrugs off Rate increases. MNG dividend and growth is good for the future … these lows make it a strong opportunity.
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