Liberty keeps interim dividend the same, for third consecutive year
Liberty shareholders are in for their third year of no interim dividend growth, with Standard Bank’s insurance subsidiary once again maintaining its half-year payout at R2.76.Diluted headline earnings per share (HEPS) declined 1% to 547.5c in the six months to end-June from 553.3c in the matching period, Liberty reported on Thursday morning."During the first half of 2018, management efforts in restoring the financial performance of the South African retail insurance business, improving the investment performance of Stanlib, simplifying the group’s overall organisational design and expanding the relationship with the Standard Bank group continued to gain traction," Liberty CEO David Munro said in the results statement.Earnings from Liberty’s "individual arrangements" division grew 18% to R704m and from Stanlib SA 54% to R175m, helping offset a 59% decline in the earnings contribution from "group arrangements" to R25m.The loss contributed by Liberty Health widened to R45m from R19m, a...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.