Phoenix Group Holdings (PHNX)

Sector:

Insurance

Index:

FTSE 100

635.60p
   
  • Change Today:
    -9.60p
  • 52 Week High: 803.00
  • 52 Week Low: 467.45
  • Currency: UK Pounds
  • Shares Issued: 721.68m
  • Volume: 233,617
  • Market Cap: £4,586.98m

Phoenix Group reaffirms intention to pay final dividend

By Michele Maatouk

Date: Thursday 07 May 2020

LONDON (ShareCast) - (Sharecast News) - Phoenix Group on Thursday reaffirmed its intention to pay a final dividend and said it continues to target cash generation of up to ?900m in 2020.
The insurer said it still plans to recommend payment of the proposed 2019 final dividend of 23.4p a share, subject to shareholder approval at the annual meeting.

Chairman Nicholas Lyons said: "The decision to recommend payment of the 2019 final dividend has been taken following extensive work, including assessing the impact of very severe scenarios on our solvency position, and only after ensuring we have sufficient capital to protect our customers' interests."

In addition, the company reiterated its target of 2020 cash generation of between ?800m and ?900m, despite "the challenging environment".

As at 24 April, Phoenix had an estimated Solvency II surplus of ?4bn versus ?3.1bn at the end of December 2019. The company also said it had seen "encouraging" first-quarter new business, with estimated incremental long-term cash generation of ?100m, comprising ?58m from UK Open and Europe businesses, up from ?48m in the first quarter of last year, and ?42m from bulk purchase annuities compared to zero in the corresponding period a year ago.

Chief executive officer Andy Briggs said: "The resilience of both Phoenix's operations and its balance sheet has been demonstrated during this period of significant market volatility. In these extraordinary times, Phoenix is taking significant steps to support and protect its customers, colleagues and the communities where we operate.

"We remain focused on delivering cash, resilience and growth and are on track to complete the acquisition of ReAssure in July."

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

 

PHNX Market Data

Currency UK Pounds
Share Price 635.60p
Change Today -9.60p
% Change -1.49 %
52 Week High 803.00
52 Week Low 467.45
Volume 233,617
Shares Issued 721.68m
Market Cap £4,586.98m

PHNX Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
93.38% above the market average93.38% above the market average93.38% above the market average93.38% above the market average93.38% above the market average
25.00% above the sector average25.00% above the sector average25.00% above the sector average25.00% above the sector average25.00% above the sector average
Price Trend
12.64% above the market average12.64% above the market average12.64% above the market average12.64% above the market average12.64% above the market average
77.78% above the sector average77.78% above the sector average77.78% above the sector average77.78% above the sector average77.78% above the sector average
Income
80.93% above the market average80.93% above the market average80.93% above the market average80.93% above the market average80.93% above the market average
25% below the sector average25% below the sector average25% below the sector average25% below the sector average25% below the sector average
Growth
6.41% above the market average6.41% above the market average6.41% above the market average6.41% above the market average6.41% above the market average
Sector averageSector averageSector averageSector averageSector average

What The Brokers Say

Strong Buy 6
Buy 0
Neutral 3
Sell 0
Strong Sell 0
Total 9
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

PHNX Dividends

  Latest Previous
  Final Interim
Ex-Div 02-Apr-20 15-Aug-19
Paid 19-May-20 30-Sep-19
Amount 23.40p 23.40p

Trades for 03-Jul-2020

Time Volume / Share Price
11:55 624 @ 635.68p
11:55 93 @ 635.60p
11:55 1 @ 635.60p
11:55 182 @ 635.60p
11:55 30 @ 635.80p

PHNX Key Personnel

Chair Nicholas Lyons
CEO Andrew Briggs

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