Aviva Plc to buy back shares worth £300 million
Aviva Plc, the British insurance and asset management company, said it plans to buy back shares worth £300 million after it reported growth in sales and operating profit, Bloomberg reported.
The company’s operating profit increased 9% to £1.467 billion ($1.9 billion) in 2023. Aviva also declared a final dividend of 22.3 pence a share. With this, the total dividends for the year stand at 33.4 pence, up 8% from the previous year.
“We have made significant progress in 2023. Sales are up, costs are down, and operating profit is 9% higher,” Aviva’s Chief Executive Officer Amanda Blanc said in the statement.
Also Read: SingTel sells 0.8% stake in Bharti Airtel to GQG Partners for $711 million
Over the past three years, the company has returned more than £9 billion to shareholders via buybacks and dividends, it said. Apart from that, Aviva has been investing as well. Recently, it acquired insurance platform Probitas for £242 million, marking its return to Lloyd’s of London market for the first time in more than two decades, the Bloomberg report added.
Aviva’s clients infused a net £8.3 billion into funds in its wealth business, helping to push assets under management in that unit up 15% to £170 billion, the report said.
(With inputs from Bloomberg)
Catch Stock Market Live Updates here
Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it’s all here, just a click away! Login Now!
Download Finplay News App to get Daily Market Updates & Live Business News.
More
Less
Published: 07 Mar 2024, 02:18 PM IST
Ganesh
http://ganesh@finplay.inFinance enthusiast, Mutual fund expert.