The Lemon Fool

Phoenix announces strong full year 2023 results and new progressive dividend policy

Commenting on the results announcement, Phoenix Group CEO, Andy Briggs said:

"Phoenix's vision is to be the UK's leading retirement savings and income business, and we are making great progress in delivering our strategy to achieve this, as our strong 2023 financial results demonstrate.

We have achieved our 2025 growth target two years early with £1.5bn of new business cash delivered by our Standard Life business - a new record. We delivered over £2bn of cash generation and maintained our resilient balance sheet, and our strong performance has enabled the Board to recommend a 2.5% dividend increase.

The next phase of our strategy will see us balance our investment across our strategic priorities to grow, optimise and enhance our business. This will support us in delivering the ambitious new 2026 targets we are announcing today. Our confidence in this strategy is demonstrated by the new progressive and sustainable dividend policy we will operate going forward."

And later;

Dividend details

The recommended Final 2023 dividend of 26.65 pence per share is expected to be paid on 22 May 2024.

The ordinary shares will be quoted ex-dividend on the London Stock Exchange as of 11 April 2024. The record date for eligibility for payment will be 12 April 2024.

idpickering wrote:

https://www.investegate.co.uk/announcem ... rt/8101374

Also posted on Company News here; viewtopic.php?p=655172#p655172

I hold these in my HYP, anmd know others here do too, so this may be of interest here.

Ian.

monabri wrote:The results were very well received - up 8.4% on the day.