Prudential Results

[daveh]

Can be found here:
www.investegate.co.uk/article.aspx?id=2 ... 6295H&fe=1

and IFRS
www.investegate.co.uk/article.aspx?id=2 ... 6303H&fe=1

and EEV
www.investegate.co.uk/article.aspx?id=2 ... 6301H&fe=1

and Risk factors
www.investegate.co.uk/article.aspx?id=2 ... 6305H&fe=1

The Important bit first:
Dividend

The Board has decided to increase the full-year ordinary dividend by 8 per cent to 47 pence per share, reflecting our 2017 financial performance and our confidence in the future prospects of the Group. In line with this, the directors have approved a second interim ordinary dividend of 32.5 pence per share (2016: 30.57 pence per share).



The Group's dividend policy remains unchanged. The Board will maintain focus on delivering a growing ordinary dividend. In line with this policy, Prudential aims to grow the ordinary dividend by 5 per cent per annum. The potential for additional distributions will continue to be determined after taking into account the Group's financial flexibility across a broad range of financial metrics and an assessment of opportunities to generate attractive returns by investing in specific areas of the business28.

Paid 18May ex 29March records date 3rd April

The headlines:

Performance highlights on a constant (and actual) exchange rate basis

· Group IFRS operating profit4 of £4,699 million, up 6 per cent1 (up 10 per cent2)

· Asia double-digit broad-based growth in new business profit3, up 12 per cent1, IFRS operating profit4, up 15 per cent1 and underlying free surplus generated5, up 19 per cent1

· US separate account net inflows6 of £3.5 billion contributing to separate account assets 19 per cent1 higher at £130.5 billion

· M&G Prudential assets under management7 up 13 per cent to £351 billion, driven by record net inflows into M&G and PruFund

· Full year 2017 ordinary dividend increased by 8 per cent to 47 pence per share

· Group Solvency II surplus8,9 estimated at £13.3 billion, equivalent to a cover ratio of 202 per cent


They have also announce d the demerger of M&G:
www.investegate.co.uk/article.aspx?id=2 ... 6646H&fe=1
and
www.investegate.co.uk/article.aspx?id=2 ... 6757H&fe=1

[Darwin]

RNS Number : 6757H
Prudential PLC
14 March 2018
..


Prudential plc today announces its intention to demerge its UK & Europe business ('M&G Prudential') from Prudential plc, resulting in two separately-listed companies with different investment characteristics and opportunities. On completion of the demerger, shareholders will hold interests in both Prudential plc and M&G Prudential.

..

Any one kindly explain how that works?

[Breelander]

...On completion of the demerger, shareholders will hold interests in both Prudential plc and M&G Prudential...

Any one kindly explain how that works?

Simply that on completion of the demerger your original shares will be withdrawn and replaced by two separate shares in the two demerged companies. This corporate action happens automatically and your broker will list the new shares as two separate holdings.

You will still own the same total value of 'the company', but now you can trade (or hold) what were once divisions in a single company as independent holdings.

[tjh290633]

RNS Number : 6757H
Prudential PLC
14 March 2018
..


Prudential plc today announces its intention to demerge its UK & Europe business ('M&G Prudential') from Prudential plc, resulting in two separately-listed companies with different investment characteristics and opportunities. On completion of the demerger, shareholders will hold interests in both Prudential plc and M&G Prudential.

..

Any one kindly explain how that works?

Normally you will end up with one share in each for every share in PRU that you hold on the record date. That's how Six Continents and BHP Billiton did it, for example. Actually SXC gave you some cash back as well.

TJH

[Gengulphus]

Normally you will end up with one share in each for every share in PRU that you hold on the record date. That's how Six Continents and BHP Billiton did it, for example. Actually SXC gave you some cash back as well.

And actually SXC also only handed out 50/59ths as many shares in each of IHG and MAB as the original number of SXC shares - basically, what it did was a capital distribution accompanied by a 59-to-50 share consolidation, followed by a standard 'one of each per original share' demerger, all rolled up into a single essentially-indivisible corporate action.

Gengulphus