Legal & General Lifts Dividend 20% as Sales and Profits Grow
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Legal & General Group Plc, the biggest manager of U.K. pension assets, raised its dividend 20 percent after sales, cash flow and operating profit grew on demand for retirement products in Britain.
The full-year payout will be 7.65 pence a share, up from 6.4 pence a share in 2011, the London-based insurer said today in a statement. That beat the 7.43 pence average estimate of 21 analysts, according to data compiled by Bloomberg. Operating profit climbed 3 percent to 1.1 billion pounds ($1.7 billion) in 2012, matching the average estimate of 14 analysts.