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PHNX Phoenix Group Holdings Plc

-8.40 (-1.71%)
Last Updated: 16:07:26
Delayed by 15 minutes
Share Name Share Symbol Market Stock Type
Phoenix Group Holdings Plc PHNX London Ordinary Share
  Price Change Price Change % Share Price Last Trade
-8.40 -1.71% 483.60 16:07:26
Open Price Low Price High Price Close Price Previous Close
492.80 482.80 495.20 492.00
more quote information »
Industry Sector

Phoenix PHNX Dividends History

Announcement Date Type Currency Dividend Amount Ex Date Record Date Payment Date

Top Dividend Posts

Top Posts
Posted at 22/4/2024 13:16 by cassini
Why are you posting about the DIVI thread? This is the PHNX thread!

You see how we can trip ourselves up by over-specifying things.

Really IMO this thread is primarily about PHNX but also serendipitously similar shares/boards that a PHNX holder might be interested in, when treated in a secondary manner to PHNX OF course.

Thus having redefined what this thread is about, it turns out folks were all on-topic after all ;0)
Posted at 20/4/2024 11:45 by kenmitch

I’ve held AA4 for a couple of years so no excuse for understating the now 8p dividend a year, paid quarterly and 38p share price, so a tad over 20% a year!! . They’ve promised to keep paying at least 8p until 2016. I’m not as confident as you are about the capital return being above the current share price, as it depends on the terminal value of the planes leased to Emirates when the leases expire. AA4 Management have made it clear that they don’t yet know either. There’s a good chance you’ll be right.

As for Fund Managers…̷0; they are easy to play as are housebuilders. Buy in bear markets and enjoy big share price gains and dividend increases and sell when markets or housing sector look toppy. I hold LIO 10.4% dividend, POLR 8.5% dividend but the yield was 10% until recent 20% share price rise on clear signs the worst is over. Also hold 10% yielder MNG.

Thanks for the further info on AEWU. I’ve held since the covid drop in 2020. It’s WELL worth checking out right now at 82p as the discount to NAV has widened from single figures to 18%.

Key fact about a portfolio full of these bargain priced big dividend payers like Phoenix; the dividends keep flowing in and pay for new buys so that the portfolio finances itself.

Finally as recent posts here have shown conclusively; it’s NOT the fault of Phoenix Management that the share price is so low. It’s the unpopularity of the UK market and again as posts here have shown, there are loads of shares like Phoenix that are way too cheap. Don’t moan….just cash in and enjoy the big dividends while waiting however long it takes for the UK market to go on an already long overdue big bull run.
Posted at 20/4/2024 08:03 by montyhedge
The rule of 72, it will take 6.4 years to double our money at the current dividend yield, not allowing for any further dividend increase. Just a thought boys, lol.
Posted at 19/4/2024 18:10 by kenmitch
Thanks Philby. Hope those high yielders are doing ok.

Interesting posts here today.e.g I didn’t know that reason why Pension Funds are not investing in the UK until reading Apparition1’s post.

As for not being able to get 11% anywhere else…..there ARE others paying as much or more, as well as the likes of AV. And LGEN paying around 8% and promising dividend increases. Dividend is 15% at my 155p buy price. In addition to those 2 I hold these:-

AA4. 17.5% dividend promised until 2026 BUT the final share price unpredictable.

MNG. 10% dividend thst looks safe.

HFEL 11% dividend that’s been increased for multiple years. Lousy capital gain performance BUT steps now being taken to try and rectify that.

AEWU. 9.7% dividend (and 13% at my 63p buy price).

GABI 9.5% dividend.

ITH 17% dividend

SQZ 12% dividend but risk of it being cut. Results imminent.

I usually sell on a dividend cut and also on any bad news. I buy the big dips.
Posted at 19/4/2024 12:49 by kenmitch
The dividend data site is THE go to site for accurate dividend information. And they update as soon as a dividend is announced. Here’s the page for PHNX and in it is a link for the historic record of Phoenix’s dividends. Note that they have INCREASED the annual dividend every year since 2015!

The dividend yield is about 11% and that’s a decent return even without any share price gains.

AND if the share price falls that’s a good opportunity for top ups to get an even bigger dividend yield, especially as there’s a high chance they will continue to increase the annual dividend.

Posters who think buybacks are the solution perhaps still don’t realise that buybacks make it easy for SELLERS as they’ve got a willing buyer of their shares. I.e Phoenix. And lots of selling doesn’t help the share price.

PHNX is getting it right imo. Those who disagree have the obvious option …SELL!!

It’s strange how posters moan about shares they hold instead of selling and moving on to shares where they are happy with Management AND have confidence in the Companies they hold. We surely want portfolios we are happy with?

I’m very happy with Phoenix. It’s NOT the fault of Management that the share price performance has been so dismal. The same applies to so many UK shares, including others paying huge dividends and buying back heavily. The key reason UK shares are so unloved is Pension Funds refusing to invest in the UK. If that changes (perhaps via effective Government incentives to pension funds and other big investors to invest in the UK) then shares like Phoenix, MNG, LGEN, AV. etc etc will go up a lot…..and will bring dividend yields back to more normal levels as a result.

Meanwhile just enjoy the huge dividends and look, as I have now, to have a portfolio FULL of very big dividend paying shares and Investment Trusts.
Posted at 02/4/2024 11:54 by richie1218
FTSE 100 insurer Phoenix Group Holdings (LSE: PHNX) recently raised its annual dividend to 52.65p a share, from 2022’s 50.8p. This gives a yield on the current £5.50 share price of 9.6%.

It remains one of the very few shares in the leading index that pays an annual return of over 9%. By comparison, the average current yield of the FTSE 100 is 3.8%.

So, £10,000 invested now in Phoenix Group would make me £960 this year in dividends. If the yield averaged the same over 10 years, then I would make £9,600 to add to my £10,000 investment.

Crucially however, if I reinvested those dividends back into the stock, I could make an additional £16,017 instead! This would give me £26,017 in total, paying me £2,373 a year in dividends, or £198 a month.

Over 30 years on an average 9.6% yield, I would potentially have £176,113, paying me £16,060 a year, or £1,338 a month!

Is the high yield sustainable?
In 2023, Phoenix Group built a cash pile of over £2bn, exceeding its already-upgraded target of £1.8bn. New business long-term cash generation was just over £1.5bn, achieving its 2025 target two years early.

This should allow it to keep paying high dividends in the coming years. It should also be a major engine for continued high growth.

Last year saw its Pension and Savings business grow 27% compared to 2022, and new business net inflows jumped 72% to £6.7bn.

The firm now expects operating cash generation to rise by around 25% to £1.4bn in 2026. It is also targeting a £900m IFRS-adjusted operating profit by that year.

Consensus analysts’ expectations are for earnings to grow 41% a year to end-2026. Earnings per share are also expected to increase 54% a year to that point.

One risk for Phoenix Group remains a new global financial crisis. Another is a deterioration in the recent major improvement in its hedging strategies for its capital position. However, both are somewhat mitigated by the huge cash war chest and by its continued high growth, in my view.

Undervalued shares?
Despite a recent rise in price after its strong 2023 results, the stock is still down 8% from its 12-month high.

I think it now looks very undervalued against its peers. This means to me that there’s a reduced chance my dividend gains will be wiped out by share price losses, not that this can be guaranteed.

Specifically, Phoenix Group trades at just 1.8 on the key price-to-book (P/B) measurement of stock value. This compares to a peer group average of 3.7.

On the equally important price-to-sales (P/S) valuation, it also looks undervalued compared to its competitors. It trades at just 0.3 – the lowest in its peer group, the average valuation of which is 1.6.

Will I buy more?
I will be buying more Phoenix Group shares very shortly for the three key reasons analysed in depth above.

But to reiterate, the very high yield looks to me like it will continue, generating significant passive income in the years to come.

Plus I think the business shows all the signs of continuing to grow stronger. And despite the recent price rise, the stock still seems to be undervalued.
Posted at 24/3/2024 07:31 by ammons
Might be of interest here, apologies if already posted.



New dividend policy sends the Phoenix Group share price up 10%. Time to buy?

Phoenix Group Holdings (LSE: PHNX) just announced “strong full-year 2023 results and [a] new progressive dividend policy,“. As a result, the share price quickly jumped 10%.

On 22 March, the company said its “vision is to be the UK’s leading retirement savings and income business.”

To that end, we saw £1.5bn in new business cash from its Standard Life operation. That’s a new record. And it means Phoenix has hit its 2025 growth targets two years early.

Share price

The Phoenix Group share price is still down 20% in the past five years. So is it cheap? For me, the key with a stock like this is cash.

Phoenix reported £2.024bn total cash generation for the year. That’s up from £1.504bn in the 2022 year. And it’s well ahead of the firm’s target of around £1.8bn.

The board reckons it means a big boost to long-term cash generation. And hitting its 2025 cash target so far ahead of plan seems like great going.

This is all ahead of analyst forecasts too. They already looked good to me, and we’ll have to wait to see how they’re updated now.

CEO Andy Briggs told us that confidence in the firm’s strategy “is demonstrated by the new progressive and sustainable dividend policy we will operate going forward.“

The FY payout for 2023 rises to 52.65p per share. On the previous day’s close, that’s a huge 11.5% dividend yield.

There were few details of the new dividend policy, other than that the board “expects the interim dividend to be in line with the previous year’s final dividend.“

The City had expected strong dividends for the next few years. And I think this adds a bit of confidence.

No-brainer buy?

With all this good news, and these rivers of cash we might expect in the coming years, are Phoenix shares a no-brainer buy for me now?

Well, no, nothing is. The stock has been on my candidates list for a while. But I still see significant long-term risk.

Phoenix stock, on earnings-based measures, doesn’t seem cheap. We’re looking at a forecast price-to-earnings (P/E) ratio of 65 for 2024.
Posted at 23/3/2024 18:15 by jubberjim
Think I noted one particular poster who was extolling phnx at 500 level and encouraging everyone to buy but the continuous drift down was I think discouraging even this most ardent Investor. It certainly discouraged me

So am intrigued and quite amused by those posters coming on after the event and declaring their savviness.

I wasn t one unfortunately I bought lgen as opposed to phnx on Thursday at the close

Still believe in lgen and although lagging both phnx and Aviva due to no doubt lacklustre debut of new chap will continue to keep the faith.

Will continue to hold phnx but in no rush to add just yet.

Will be watching on 11 April when both Aviva and Phoenix go ex dividend

Will be keeping my depleted cash in situ for time being but things looking a whole lot better. Long may it continue.

Best of luck to all
Posted at 22/3/2024 08:18 by speedsgh
AFAICS the "new progressive dividend policy" announced today is basically a formal commitment to target an increase in the dividend each year, rather than just growing it "over time".

From 2021 Annual Report:
"Having proven ‘the wedge’ for the first time and announced our inaugural organic increase, the Board has evolved our dividend policy to reflect the growing, sustainable business that Phoenix now is.

We have evolved our previous policy that was for a “stable and sustainable dividend” to a policy which is to pay a dividend that is sustainable and grows over time."

from 2022 Annual Report:
"Dividend policy and approach

We operate a dividend policy which is to pay a dividend that is sustainable and grows over time. It is important to emphasise that the Board will continue to, above all else, prioritise the sustainability of our dividend over the very long term.

We have now demonstrated that Phoenix can grow both organically and through M&A. Therefore, going forward, we will simplify our dividend communication, with the Board announcing any potential annual dividend increase at our full year results, which will combine both organic growth and inorganic M&A growth."

from today's 2023 Full Year results rns:

"New progressive dividend policy

The Board has evolved Phoenix's dividend policy to reflect the confidence it has in the Group's strategy. The Group will now operate a progressive and sustainable ordinary dividend policy.

The Board will continue to announce any potential annual dividend increase alongside the Group's Full Year results and expects the Interim dividend to be in-line with the previous year's Final dividend. The Board will continue to prioritise the sustainability of our dividend over the very long term. Future dividends and annual increases will continue to be subject to the discretion of the Board, following assessment of longer-term affordability."
Posted at 22/3/2024 07:26 by speedsgh
AFAICS the new progressive dividend policy is little change from what has been occurring in recent years. It basically seems to be formalising that it will be progressive...

"The Board has evolved Phoenix's dividend policy to reflect the confidence it has in the Group's strategy. The Group will now operate a progressive and sustainable ordinary dividend policy.

The Board will continue to announce any potential annual dividend increase alongside the Group's Full Year results and expects the Interim dividend to be in-line with the previous year's Final dividend. The Board will continue to prioritise the sustainability of our dividend over the very long term. Future dividends and annual increases will continue to be subject to the discretion of the Board, following assessment of longer-term affordability."

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