Legal & General (L&G) has reported an improved set of profits and raised its total dividend by 33%.
Operating profit was up 87% at £1.11 billion compared to £592 million in 2009. The final dividend is now 2.73 pence per share.
Tim Breedon, L&G’s group chief executive, said: “IFRS operating profit of £1.1 billion is considerably higher this year and the balance sheet has been further strengthened with an IGD surplus of £3.1 billion after accruing for an increased final dividend of 2.73 pence per share. This increased dividend reflects underlying growth in net cash and the Board’s confidence in its sustainability over the medium term.
