Good jump in the share price this morning. Anyone know what’s going on?
I think it’s general across all the stock market. Must be related to the fact that CPI(Consumer price index) in the US was lower than expected. This is seen as a recover sign, meaning interest rates won’t increase as much. Nothing to do with the UK.
The only update from LGEN was the appointment of a new board member. Board Committee Appointment - 09:00:02 11 Nov 2022 - LGEN News article | London Stock Exchange
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Excellent announcement by legal and general, in my opinion. This site gives a fuller rns announcement than for instance Hargreaves Lansdown. Well worth a read and the share price increase at the moment doesn’t in my opinion reflect it.
Note announcement was today.
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Prediction
Legal and general are down 5% over 5 years.
They have increased profits and dividends for getting on 10 years. With obvious exception of COVID but still produced a decent profit during COVID.
Pre COVID ran upto 320 post COVID 310p.
At some point they will settle above 300p long term.
This I would suggest will be around April post exdivided.
IE they will not fall back to around 250-260 mark where they normally stand.
It has to happen as profits continue there inevitable rise. Particularly as it appears that profits are appearing to accelerate.
I hold from a purchase in the depth of the crash with a dividend close on 12%
At this point in time legal and general wouldn’t be on my radar but that dividend is now in my ISA and I am making use of it by buying shares I am interested in.
Even at the present price and dividends I would consider buying (if I hadn’t already) just to reinvest the dividends in something else I fancy.
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Nigel is retiring (CEO last 10 years).
Share price down 3%
FTSE 100 up a minimal amount.
How important is he to the growth of legal and general?
I think he set the course and it’s unlikely under the new CEO that they will change course.
Trading at 253 buy.
I am buying shares in my ISA that I have in my general account that I want to sell and buy back in ISA next year.
I have a small amount of legal and general still in my general account so put an order in for the same amount in my ISA at 240 despite the price being 253p. Greedy I know but I reckon the market has not digested the news. Once there is some downward moment I could get them. Possible!
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To greedy had to pay 253p
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I have bit the bullet and bought some LGEN direct and in a shocka, Certificated form!! at least I will now get to vote on the AGM’s etc.
This is the only thing lacking for convenience of using nominee accounts. I believe some larger companies are addressing this but will hold onto my certificates until then.
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Hargreaves Lansdowne will vote for you.
Going against the grain at the moment (IE its 1.5 beta).
Sold day before exdivided last year (final)
Bought back in ISA.
So just went into profit at the new price.
I think this will reach £3 before the next exdivided date.(last year 26/04)
It may even stay up this time.
Has a habit of drifting down after exdivided.
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Financial results and Dividend declared.
ex-dividend date for final dividend: 27/04/2023
payment date: 05/06/2023
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Overall, great results. The share price decreased today, but I think that is related to the statements from G Powell in the US. Positive outlook?
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Extremely good results. More than all the “pundits” suggested
LEGAL & GENERAL FY OPERATING PROFIT BEATS EXPECTATIONS
(Sharecast News) - Legal & General lifted its dividend on Wednesday as it posted a jump in full-year operating profit.
In the year to the end of December 2022, operating profit rose 12% to £2.52bn, beating consensus expectations of £2.46bn. Earnings per share also pushed up 12%, to 38.33p and the return on equity was 20.7%, up from 20.5% a year earlier.
Retail operating profit increased 33% to £825m, but investment arm LGIM saw operating profit fall to £340m from £422m. The company said this was due primarily to the impact of market movements on assets under management, which decreased by £225bn since the start of the year.
The company’s solvency II coverage ratio rose to 236% from 187% and the full-year dividend was lifted 5% to 19.37p a share.
Chief executive Nigel Wilson said: "Our diversified and highly synergistic business model continues to deliver significant benefits. Our balance sheet is strong and highly resilient, with a record solvency ratio of 236% and we have once again received 100% of cash flows due from our direct
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“full-year dividend was lifted 5% to 19.37p a share.”
5% as expected.
Unnecessarily high. Even over the top! !
Share price is not reflecting the results. The market hasn’t fallen far enough for it not to rise
I would not be surprised if I see a small rise on the day.
Hi Mikepike.
Sorry, i’m a bit of a novice at this game but i’ve got 1264 shares in L&G on Freetrade at present… so does that mean I can expect a dividend of 19.37p for each of those? Is it just as easy as it looks 
Thanks in advance
Paul
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Yes the dividend will be per share. So 1264 x 19.37 pence
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To note though, that is the total annual dividend figure though (including interim one).
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Thanks MJRInvests.
wow… that’s very nice - thank you
I guess it’s too late to buy some more and expect to receive that payback now then
Thanks for the clarification Jimmy J
Just to clarify, the dividend figure you mention is for the whole year, I.e. the interim paid last September of 5.44p, and the final declared today of 13.93p.
So your next dividend payment will be 1264 x 13.93p, assuming you hold those shares on the ex-div date of 27th April, and will be paid on 5th June.
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