Aviva slashes its dividend by 31%.INSURANCE giant Aviva Aviva plc (LSE: AV.) is the world's fifth-largest insurance group, the biggest insurance group in the UK and the second-largest insurance group in Canada. Worldwide, it trails behind AXA, Allianz, ING and Fortis. yesterday announced better-thanexpected profits but still slashed slash v. slashed, slash·ing, slash·es v.tr. 1. To cut or form by cutting with forceful sweeping strokes: slash a path through the underbrush. 2. its halfyear dividend by almost a third. The company's operating profits rose to pounds 1.68bn from pounds 1.51bn in the six months to June 30 after margins on life and pensions business improved and its general insurance arm exceeded targets. But Aviva said conditions in the first six months continued to be challenging, prompting the cut in its dividend by 31% to 9p a share. It also said it wanted additional flexibility to exploit market opportunities. |
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