Analyst Note| Henry Heathfield, CFA |
Aviva announced full-year 2020 results on March 4. The business has delivered a net profit for the year of GBP 2.91 billion, which is really quite a great result. As a quick strategic recap, since Aug. 6, 2020 Aviva has disposed of GBP 1.7 billion peripheral business units, most notably in Hong Kong, Indonesia and Singapore. Further disposals in France, Italy, Turkey and Vietnam have also been announced and these are expected to be completed in 2021 for an expected consideration of GBP 4.3 billion. With these cash injections Aviva is significantly improving its cash position. There is a planned GBP 1.7 billion debt reduction for the first half of 2021. The final dividend announced on March 4 is GBp 14.0 per share and this takes the total for 2020 to GBp 21.0 per share.