HomeInvestmentsAviva Plans Increased Capital Return Amid Profit Increase

Aviva Plans Increased Capital Return Amid Profit Increase

British insurer Aviva has announced that it will be giving more money back to its shareholders after posting a better-than-expected profit during the first half of 2022. Profit rose by 14% during the first six months of the year.

This decision follows pressure from investor Cevian Capital, which holds a 6% stake in the company, to increase investor payouts. The investment firm previously requested that Aviva pay out five billion pounds to shareholders by the end of 2022.

Since Amanda Blanc was appointed chief executive in July 2020, Aviva has paid out 4.75 billion pounds to shareholders. This comes after the company raised 7.5 billion pounds in a string of disposals.

“We are increasingly confident in Aviva’s prospects,” Blanc remarked, expressing satisfaction with the company’s financial performance. Operating profit rose to 829 million pounds during the first six months of 2022, thereby exceeding the company’s 742 million pounds forecast.

In contrast, Aviva’s investors’ assets declined by 13% to 232 billion pounds over the same period as a result of falling market conditions. Aviva’s full year 2022 dividend guidance is around 31 pence. The company has agreed to pay out a 10.3 pence interim dividend to investors.

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