Board recommends a 25% increase
The board of Chaucer Holdings has announced that it will recommend a total dividend of 5.00p per share for 2007, an increase of 25% on the total dividend of 4.00p paid for 2006. As a consequence, the Board will recommend a final dividend of 3.50p to shareholders (2006:2.90p).
The Board intends, in the absence of unforeseen circumstances, to recommend a total dividend for 2008 of 5.50p and to increase annual dividends by at least 10% per annum for 2009 and 2010.
The dividend increase reflects the Board’s continuing strategic objective of delivering optimum value to shareholders across the insurance cycle through the alignment of dividend payments to the capital requirements of the business.
Ewen Gilmour, chief executive of Chaucer, said: “The increase in dividend provides further evidence of Chaucer’s continuing progress. The healthy trading conditions experienced in 2007, particularly with the absence of major hurricane losses, are encouraging for our financial performance this year and next.”
