Standard Life Hits Out At Prudential Over Yo-Yoing Dividend

Standard Life had a pop at rival Prudential over its 20 per cent dividend hike this week.

‘We are not in the business of announcing 20 per cent increases after 30 per cent cuts. We don’t believe in that,’ said Jackie Hunt, Standard Life’s finance director, according to the Daily Mail.

Prudential slashed its dividend by 38 per cent in 2003 and since then has raised it very slowly – until now, notes the newspaper. 

Hunt made the comments as Standard Life announced a much more sober 6 per cent rise in its payout to shareholders.

Source: Daily Mail

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