so #Aviva shares open down a whopping 15% due to the dividend cut. Tough sell when Standard Life are returning £302m to shareholders.— Joshua Raymond (@Josh_CityIndex) March 7, 2013
Following news that Aviva, Britain's second-biggest insurer, has reduced its dividend by over 25 per cent shares have sunk on opening. The cut is Aviva's first since 2009. Chairman John McFarlane said:
I regret that this has become necessary, but can assure shareholders we took this decision only after examining scrupulously all alternatives.