Standard Life shares giveaway pays dividends for clients
Standard Life policyholders who were rewarded with shares when the company floated in 2006 have not seen them do much of interest.
They joined the stockmarket at 230p and were today at 208p.
But the stock has at least paid healthy dividends. Today the interim divi was risen 5% to 4.35p on the back of some confident half-year results.
Chief executive David Nish reckons the insurer is poised to capitalise on the Government's desire to force people to save for their retirement.
"The UK is a great place for Standard Life to do business," he says. "There are dynamics of change around the savings gap and around regulation, both things that pay to our strengths."
Standard Life reaped the benefits of growth in its overseas division to post higher interim profits, at £182 million after a £10 million loss last time.
Funds under management rose 5% to £179 billion in the six months to August 11.
Standard Life's earnings follow a set of solid profit increases from Britain's top insurers this month.
Larger rivals Aviva and Legal & General have posted higher first-half profits and delivered upbeat outlooks, while Prudential is also expected to report a rise in profits on Thursday.
"Whilst the economic background remains uncertain we believe that the underlying demographic and regulatory trends in our key markets continue to support our future growth potential," Standard Life said.
