Aviva

[monabri]

increased the full year dividend by 9% to 30.0 pence per share (20.75p final)

Our key profit measure, operating earnings per share, is up 7%

Looking forward, our capital management plan will prioritise debt reduction for the foreseeable future. We plan to reduce debt by at least £1.5 billion by the end of 2022, saving approximately £90 million per year in interest expenses

Maurice Tulloch , new CEO -"I am determined to re-energise Aviva and deliver long term growth for our shareholders"

Final dividend per share 20.75 pence

· Total 2018 dividend per share 30.0 pence (2017: 27.4 pence)

Having achieved our 50% dividend payout ratio target relative to operating EPS‡,# in 2017, this year we have increased the dividend payout ratio to 51.4%. Looking forward, the Board of Directors has decided to move from a policy targeting a pay-out ratio tied to operating EPS to a progressive dividend policy

(Dates possibly in part 2?)

[SuperCally]

Part 3! (gave up trying to locate ex-div date!)

Subsequent to 31 December 2018, the directors proposed a final dividend for 2018 of 20.75 pence per ordinary share (2017: 19.00 pence), amounting to £810 million (2017: £764 million) in total. Subject to approval by shareholders at the AGM, the dividend will be paid on 30 May 2019 and will be accounted for as an appropriation of retained earnings in the year ending 31 December 2019.

http://www.lse.co.uk/share-regulatory-n ... art_3_of_4

[monabri]

"Subject to approval by shareholders at the AGM, the dividend will be paid on 30 May 2019 " - Found in Part 3

XD date...? ( not jumping out at me!)..edit: not just me then having difficulty in finding the XD date

Oh well, we have the pay date!

[monabri]

From the Aviva Investors page

https://www.aviva.com/investors/dividends/

Code: Select all

Type     | Ex-dividend date | Record date | Payment date | ADR Payment date | Dividend pence per share
Interim  | 15 Aug 19*       | 16 Aug 19*  | 26 Sep 19*   | 2 Oct 19*        | TBC                     
Final    | 11 Apr 19        | 12 Apr 19   | 30 May 19    | 5 Jun 19         | 20.75p                               


* Provisional

( Got there in the end!!!!)

[SuperCally]

Wouldn’t it be nice if - just for the benefit of the ‘Hoi Polloi’ - all companies put this info in the ‘Highlights’ panel at the start of ‘Part 1’?!

[daveh]

"Subject to approval by shareholders at the AGM, the dividend will be paid on 30 May 2019 " - Found in Part 3

XD date...? ( not jumping out at me!)..edit: not just me then having difficulty in finding the XD date

Oh well, we have the pay date!

Nor me - I'm looking at the moment with the search function. There are some interesting quotes on future dividends though:

Dividend
In light of our results and the strength of our financial position, we have increased our total dividend per share by 9% to 30.0 pence (2017: 27.4 pence). This is the fifth consecutive year of significant annual growth in the dividend, with the 2018 level representing double the level paid for 2013 (15.0 pence).
Having achieved our 50% dividend payout ratio target relative to operating EPS‡,# in 2017, this year we have increased the dividend payout ratio to 51.4%. Looking forward, the Board of Directors has decided to move from a policy targeting a pay-out ratio tied to operating EPS to a progressive dividend policy. This change will afford the new CEO greater flexibility to implement his strategic agenda while protecting the current dividend per share for our existing shareholders.

At Aviva, a "progressive" dividend policy means that, under ordinary circumstances, the Board of Directors would at least maintain the then-current annual ordinary dividend per share, while seeking to grow the dividend per share over time based on the Board of Directors' periodic assessment of the Group's financial performance and future outlook. In practice, this might result in a higher or lower dividend pay-out ratio relative to earnings, which could fluctuate, while the dividend per share remains steady or grows under ordinary circumstances. Aviva's annual ordinary dividend per share has doubled from 2013 to 2018, and the Company expects that future percentage growth rates of the dividend per share will be more modest than those in the recent past.

So we may see lower or no increases in future as it looks like the CEO may want to pay less of our profits back to us in the form of dividends.

[monabri]

So we may see lower or no increases in future as it looks like the CEO may want to pay less of our profits back to us in the form of dividends.

"Aviva's annual ordinary dividend per share has doubled from 2013 to 2018, and the Company expects that future percentage growth rates of the dividend per share will be more modest than those in the recent past."

It certainly looks that way from the text of the report.

Here's the historical data. Note how selective the text is (dividend per share has doubled from 2013 to 2018 - replace 2013 with 2008 )

Code: Select all

Year End | Interim | Final  | Special | Total  | Growth
12/2018  | 9.25p   | 20.75p |       - | 30.00p |   9.49%
12/2017  | 8.40p   | 19.00p |       - | 27.40p |  17.60%
12/2016  | 7.42p   | 15.88p |       - | 23.30p |  12.02%
12/2015  | 6.75p   | 14.05p |       - | 20.80p |  14.92%
12/2014  | 5.85p   | 12.25p |       - | 18.10p |  20.67%
12/2013  | 5.60p   | 9.40p  |       - | 15.00p | -21.05%
12/2012  | 10.00p  | 9.00p  |       - | 19.00p | -26.92%
12/2011  | 10.00p  | 16.00p |       - | 26.00p |   1.96%
12/2010  | 9.50p   | 16.00p |       - | 25.50p |   6.25%
12/2009  | 9.00p   | 15.00p |       - | 24.00p | -27.27%
12/2008  | 13.09p  | 19.91p |       - | 33.00p |   0.00%


[daveh]

"Subject to approval by shareholders at the AGM, the dividend will be paid on 30 May 2019 " - Found in Part 3

XD date...? ( not jumping out at me!)..edit: not just me then having difficulty in finding the XD date

Oh well, we have the pay date!

Aviva have finally told me the xd and record dates in a separate RNS:
www.investegate.co.uk/article.aspx?id=2 ... 1623S&fe=1

My mail package has a time of 9:10 for delivery compared to 7:14 for 1of4 final results to 7:19 for the fourth RNS on the final results (which happened to be 3of4 as 4of4 arrived third )

At least they got there in the end and a delay of 2hrs is not a problem in the great scheme of things when the ex date is a month away.

[scrumpyjack]

Yes and as I recall the dividend was about 44p back in 2002 (it was called Commercial Union in those days) and the share price was north of 1000p

[Alaric]

Looking forward, our capital management plan will prioritise debt reduction for the foreseeable future. We plan to reduce debt by at least £1.5 billion by the end of 2022, saving approximately £90 million per year in interest expenses

Given the controversy last year, I wonder whether they include Preference Shares in their concept of debt reduction?

[monabri]

Share price has reacted quite badly - down over 5% (409p) 11:06am.

[PinkDalek]

Aviva have finally told me the xd and record dates in a separate RNS:

http://www.investegate.co.uk/article.as ... 1623S&fe=1

My mail package has a time of 9:10 for delivery compared to 7:14 for 1of4 final results to 7:19 for the fourth RNS on the final results (which happened to be 3of4 as 4of4 arrived third )

The separate RNS was not released until 9:00am as time stamped here https://www.londonstockexchange.com/exc ... 93831.html

For those still looking for the relevant dates, it includes:

On 6 March 2019, the Directors agreed a recommendation to shareholders of a final dividend of 20.75 pence per share on Aviva ordinary shares. Subject to shareholder approval at the 2019 Annual General Meeting, the final dividend for the year ending 31 December 2018 will be paid on 30 May 2019 to shareholders on the Register of Members at the close of business on the record date of 12 April 2019.

[Dod101]

Yes and as I recall the dividend was about 44p back in 2002 (it was called Commercial Union in those days) and the share price was north of 1000p

It does not really matter but I thought that the parent company was Norwich Union by 2002. The trouble with both RSA and Aviva is that they are an amalgam of so many companies. Aviva comes from Norwich Union, Commercial Union and General Accident amongst many others and it is that baggage that puts me off them and helps explain the accident prone nature of both of these companies.

Dod