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Legal & General hikes dividend after profit rise
Legal & General has increased its full-year dividend payment by 24 per cent after reporting strong results for 2010.
The insurer said annual pre-tax profits were £1.09bn, up from £1.07bn, on worldwide sales which rose 28 per cent to £1.8bn.
The company’s savings division saw operating profit up 130 per cent to £115m and net cash generation up 134 per cent to £68m.
L&G said in a statement: “The transformation of the savings business positions us well for the changes to the savings landscape anticipated to take place over the next few years.”