Old Mutual delivers strong debut results after split
Old Mutual shareholders will receive a total R1.45 interim dividend, consisting of a "first dividend" of 45c plus a R1 special dividend.The life insurer is pitching itself as a new company following its separation from Quilter and the change of its JSE code to OMU from OML.Quilter on August 8 declared a 12p interim dividend, which was converted to R2.06 for its JSE investors. So investors who kept both their Old Mutual and Quilter shares received more than five times the 65c interim dividend the combined groups paid in 2017."With our debut results as Old Mutual Limited, I am pleased to report that we are on track to deliver on the commitments we have made to investors," CEO Peter Moyo said in the results statement released on Friday morning."We delivered solid financial results in a tough environment and have made good progress against most of our eight battlegrounds, driven through deliberate management action." Old Mutual grew interim revenue from continuing operations by 13% to R...
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