By Ian Walker
Legal & General Group PLC said Thursday that it expects to report operating profit for 2020 broadly in line with last year, and that it plans to keep its final dividend flat.
The insurance company said that gross written premiums in the U.K. and U.S. for the year to date are up 5% at 1.48 billion pounds ($1.96 billion).
The company added that housing sales have recovered in the second half of the year, and reiterated guidance that housing sales are expected to fall 30% for the year.
Legal & General reported an operating profit of GBP2.3 billion in 2019 and paid total dividends of 17.57 pence, with a 12.64 pence final dividend that was paid in June.
From 2021 the board intends to grow the dividend at low to mid-single digits, the company said.
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(END) Dow Jones Newswires