Our performance
While markets have continued to be challenging, Standard Life has delivered a strong performance for our shareholders. Although the turbulent economic environment had a significant impact on financial services as a whole, we weathered the crisis well thanks to a disciplined approach to financial and risk management.
Financial highlights 2009
Group European Embedded Value (EEV) operating profit before tax fell slightly to £919m (2008: £933m), mainly due to a fall in profits from reduced sales levels and the impact of challenging market conditions.
Group total net flows increased to £4.5bn (2008: £2.7bn) with strong inflows in Standard Life Investments. As a long-term savings and investments business, net flows and assets under administration (AUA) are key drivers of shareholder value.
Group capital surplus remains strong at £3.6bn (2008: £3.5bn) and is a measure of the financial strength of our business.
We have continued to grow customer assets with Group AUA increasing to £177.6bn (2008: £156.8bn). AUA benefited from higher net flows in 2009 and the recovery in financial markets in the second half of the year. We aim to grow AUA by focusing on our customers and meeting their needs with innovative products.
IFRS profit after tax attributable to equity holders increased to £213m (2008: £100m) and reflects improved market conditions in Canada and also operational efficiencies across the business.
Total shareholder return (TSR) measures the overall return for shareholders, taking account of both share price movements and dividends during the year. Our TSR of 14% (2008: negative 16%) reflects the recovery in equity markets in the second half of 2009. Strong cash generation enabled us to maintain our progressive dividend policy.
How our shares performed
Our aim is to run our business in a way that consistently generates quality returns for our shareholders, irrespective of the economic environment. In 2009, we saw some extremely challenging market conditions as worries over the banking sector continued and spilled over into other areas. Following its strong performance over the previous two years, our share price came under pressure along with the rest of the sector - particularly in the first part of the year.
Steady FTSE gains were reflected in a more settled time for our share price after July, with our share price ending up 7% to 216.5p per share over the year as a whole. At 4 March 2010, our share price was down since the start of the year, in line with the wider sector.
Your final dividend for 2009 - 8.09p
We are pleased to tell you the final dividend for 2009 of 8.09p per share was paid on 28 May 2010, bringing the total dividend for 2009 to 12.24p per share.
We aim to pay our shareholders two dividends each year - an interim dividend payment in November and a final dividend payment in May. Our plan is to keep adding value for our shareholders, through the value of your shares and your dividend payments. These are the total dividends we've paid each year since we became a plc.
2010 interim dividend
4.35p per share
Find out more about your dividends and how you can receive yours
Share price
Related websites
Share portal
Annual Report and Accounts
David Nish Interview
Read about our Chief Executive’s vision for 2010 and more in his interview…
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