M&g Share Discussion Threads

[helen troy] 21/3/2024 08:07:02

The interim divi increased by 3p, the second interim reduced by 2p,So total divi increased by 1p.They have paid part of it early in effect.

[tornado12] 21/3/2024 08:05:38

If they drop , I’m in like flint, but will certainly add during this year. They are a much better investment than the likes of ABRDN & PRU… long term bottom draw income unless they get brought out before GLA

[skinny] 21/3/2024 07:59:50

- The 2023 total ordinary dividend of 19.7 pence per share (2022: 19.6 pence per share) is in line with our policy of stable or increasing dividends. The second interim dividend of 13.2 pence per share is payable on 9 May 2024.

[tuftymatt] 21/3/2024 07:59:36

While the tiny cut in the divi isn't great I look at the share price growth from then to now and am ok with it. The yield is still very strong compared to many so hopefully, as mentioned earlier, once the dust settles it's onwards and upwards.

Good luck all 👍🏻

[rongetsrich] 21/3/2024 07:58:29

I guess the city mice will hammer this

[spud] 21/3/2024 07:58:29

Excellent results and I can't find anything negative tbh.Even the Market will like.spud

[gbh2] 21/3/2024 07:58:23

Dividend doesn't send the right signal, opening will be interesting.

[eigthwonder] 21/3/2024 07:57:45

That cut will cost more in capitalisation than in saves in cash. Misguided

[rongetsrich] 21/3/2024 07:57:21

The divi is reduced. This is not good.

[keyno] 21/3/2024 07:55:50

Divi lower than last year. Will Board be taking a corresponding small cut in their salaries?

[feddie] 21/3/2024 07:48:55

Second interim 13.2p vs. 13.4p last year. Even if the total is 0.1p higher, the interim visuals are not good.

[lord gnome] 21/3/2024 07:48:07

Pity about the cut in the final dividend. The cost of maintaining it at 13.4p would have been negligible.

[helen troy] 21/3/2024 07:42:35

Yes. Divi was 13.4 last March.

[tuftymatt] 21/3/2024 07:38:40

Yes onwards and upwards here in my opinion after no doubt a wobble on results / around the x divi date etc etc.

Get the divi banked and then during the summer hopefully see an effort to break 240.

Good luck all 👍🏻

[gbh2] 21/3/2024 07:36:53

Dividend 13.2p ex 28th March Paid 9th May

If memory serves correctly that's down on last March's dividend.

[helen troy] 21/3/2024 07:18:47

Ha ha Ron. I'm not selling before the divi, and then I'll give it time to recover some of the xdivi drop.

[tornado12] 21/3/2024 07:10:25

Positive numbers across the board is what I see with divi slightly higher and maintained. Do me ! GLA

[skinny] 21/3/2024 07:00:54

Financial strength

- Adjusted operating profit before tax of £797 million was up 28% year-on-year (2022: £625 millionii), reflecting a resilient performance in Asset Management, and improved contribution from Life, Wealth and Corporate Centre.

- IFRS profit after tax of £309 million improved significantly (2022: £2,055 million lossii), benefitting from higher adjusted operating profit and a meaningful reduction in losses relating to short-term fluctuations in investment returns.

- Operating change in contractual service margin (CSM) of £355 million was up 175% year-on-year (2022: £129 million), primarily due to higher expected real-world return on with-profits business CSM following the increase in risk-free rates during 2022.

- Operating capital generation of £996 million was also up by 20% year-on-year (2022: £821 million), supported by a strong underlying capital generation of £752 million (2022: £628 million) and other operating capital generation of £244 million (2022: £193 million).

- Over 2022 and 2023, we generated £1.8 billion of operating capital, which puts us in a very good position to achieve our three-year cumulative operating capital generation target of £2.5 billion by end of year.

- Shareholder Solvency II coverage ratio improved to 203% (2022: 199%).

- The 2023 total ordinary dividend of 19.7 pence per share (2022: 19.6 pence per share) is in line with our policy of stable or increasing dividends. The second interim dividend of 13.2 pence per share is payable on 9 May 2024.

[skinny] 20/3/2024 18:19:31

Helen - as per the current timetable, XD is 28 March 2024.

[1jat] 20/3/2024 18:06:53

I am feeling a little apprehensive given the beating handed out to Pru today on apparently decent results.
MNG pays a decent dividend - and a modest rise is nailed on if only through the completion of the buy back last year.
Things to look for:
Has the asset manager turned a corner - has third party AUM started to rise on the back of better performance and have cost reductions improved profitability?
Wealth - clearer strategy for the advice and platform elements (platform rumoured to be for sale). Effect of colts of living on new PruFund business.
Life insurance - profitability metrics on the BPA deals, assumption changes on the back book and effect of inflation v cost reductions.
Centre: Capital status (most SCRs are down by up to 10% in this cycle, MNG may be more bc of the buy back), debt/liquidity approach (they can redeem debt should they want to, but will they indicate they will roll it over). Will they start a new buy back? Market reactions to those that have/have not flagged a BB suggest a modest BB would be a good idea.

[helen troy] 20/3/2024 15:27:01

Dealing and margin costs prohibit that for me klotzak

[gbh2] 20/3/2024 15:21:04

A good dividend will make the run up to ex divi date interesting.

[klotzak] 20/3/2024 15:20:35

Well , perhaps sell today and buy back tomorrow, Helen? 50:50. Up until the day before divi you can buy and take the divi later, but lose the divi amount first thing XD.

[helen troy] 20/3/2024 15:18:01

Tomorrow's price depends on the results imho. There could be wild swings depending on differing views of results, good, bad, indifferent.