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Helios Underwriting swings to FY'17 loss, lowers total dividend

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Helios Underwriting swings to FY'17 loss, lowers total dividend

Helios Underwriting PLC's board recommended a total dividend of 1.5 pence per share for 2017, down from 5.5 pence per share for the previous year.

The total dividend comprised a final dividend of 1.5 pence per share, unchanged from 2016, and no special dividend, as the board decided to retain cash for acquisition opportunities and potential share buybacks. Subject to approval, the dividend will be paid July 6 in a single payment to shareholders on the register June 8.

The U.K.-based firm reported a full-year 2017 loss attributable to owners of the parent of £694,000, compared to a profit of £713,000 a year earlier. Underwriting profit dropped to £183,000 from £2.2 million due to natural catastrophes in 2017.