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Hastings Group proposes higher dividend as FY'17 profit increases YOY

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Hastings Group proposes higher dividend as FY'17 profit increases YOY

U.K.-based Hastings Group Holdings Plc proposed a final dividend of 8.5 pence per share in 2017, up from 6.6 pence per share a year earlier, as it reported preliminary full-year 2017 consolidated profit attributable to equity holders of the parent of £126.7 million, up from £78.4 million in 2016.

The final dividend will be paid out May 31 to shareholders on the register May 4. Taking into account the first dividend of 4.1 pence per share paid in November 2017, the total dividend for the year stands at 12.6 pence per share, up from 9.9 pence per share in 2016.

The firm reported net earned premiums of £410.1 million, up from £334.8 million a year ago. Gross written premiums also increased year over year to £930.8 million from £769.0 million.

EPS came in at 19.2 pence, compared to 11.9 pence in the prior year.

The company said it will continue focusing on underwriting and profitable growth in 2018 and that it remains "confident" that it will deliver all its 2019 targets.