Operating companies’ cash generation £486 million (2015: £225 million)

The Group delivered a total of £486 million of cash generation from its operating companies, against a full year cash generation target of £350 million to £450 million. Of the cash generation in 2016, £117 million was from the acquisition of the AXA businesses.

Final 2016 dividend per share
23.9 pence per share (Final 2015 dividend: 22.7 pence per share rebased for rights issue)
The Board has recommended a final dividend of 23.9p per share, an equivalent 5% increase to the 2015 level (rebased to take into account the bonus element of the rights issue completed in November 2016). Phoenix expects to increase the interim 2017 dividend by a further 5% to 25.1p per share, giving an annualised dividend per share of 50.2p.
Group operating profit
£351 million (2015: £324 million)
The Group achieved operating profits of £351 million in 2016 (2015: £324 million); reflecting an increased impact from management actions.
Solvency II Surplus
£1.9 billion (2015: £1.3 billion)
Our PLHL Solvency II surplus of £1.9 billion represents a robust and resilient capital position.

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