Legal & General shares drop on $250 mln buyback, merger of investment units
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jun 12 2024
0mins
Source: reuters
- Legal & General's Strategic Changes:
- Legal & General plans a 200 million pound share buyback and merger of investment units to boost returns.
- The merger combines Legal & General Investment Management and Legal & General Capital.
- LGIM CEO Michelle Scrimgeour will step down due to the changes.
- The new strategy aims for 5% dividend growth by 2024 and subsequent annual growth.
- The company targets growth in bulk annuities and international business expansion.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
