Introduction

Prudential delivered a very strong performance in 2010, with results significantly ahead of 2009. Our disciplined approach to capital allocation, proactive risk management and focus on profitability are generating both growth and cash for our shareholders.

On the statutory International Financial Reporting Standards (IFRS) basis, our operating profit before tax from continuing operations increased by 24 per cent to £1,941 million. On the European Embedded Value (EEV) basis, Group operating profit before tax increased by 20 per cent to £3,696 million.

In view of the progress that the Group has made in recent years to improve IFRS operating profitability and free surplus generation, the Board has decided to rebase the full year dividend upwards by 4 pence per share, equivalent to an increase of 20 per cent. In line with this, the directors recommend a final dividend of 17.24 pence per share, which brings the total dividend for the year to 23.85 pence per share.

We believe our proven strategy, our discipline in putting value ahead of volume and our focus on execution will continue to allow us to grow profitably and to generate significant returns for our shareholders.

 

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