Legal & General Group Announces £500 Mln Buyback For 2025

March 12 (Reuters) - Legal & General Group PLC LGEN.L:

• FY NET INCOME GBP 191 MILLION

• FY PRETAX PROFIT GBP 332 MILLION

• FY OPERATING PROFIT GBP 1,711 MILLION

• FY ROE 34.8%

• FY DIVIDEND GBP 0.2136

• OUR CLEAR CAPITAL ALLOCATION FRAMEWORK SUPPORTS OUR PLAN TO RETURN OVER £5 BILLION OVER NEXT THREE YEARS

• ASSET MANAGEMENT: £1.1TRN GLOBAL AUM AT YEAR END

• INTENDS TO RETURN TO SHAREHOLDERS OVER 2024-2027 THAN EQUIVALENT OF MAINTAINING 5% PER ANNUM GROWTH IN DIVIDEND PER SHARE

• INTEND TO RETURN EQUIVALENT OF C. 40% OF MARKET CAP TO SHAREHOLDERS OVER 2025-2027 THROUGH DIVIDENDS & BUYBACKS

• NOW HAVE A PLAN IN PLACE FOR DISPOSAL OF EACH OF REMINING ASSETS IN OUR CORPORATE INVESTMENTS PORTFOLIO

• TARGETING 6-9% CAGR IN CORE OPERATING EPS (2024-27)

• TARGETING AT >20% OPERATING RETURN ON EQUITY IN 2025-2027

• TARGETING £5-£6 BILLION CUMULATIVE SOLVENCY II CAPITAL GENERATION OVER 3 YEARS (2025, 2026, 2027)

• NOW HAVE A PLAN IN PLACE FOR DISPOSAL OF EACH OF REMINING ASSETS IN OUR CORPORATE INVESTMENTS PORTFOLIO

• £500M BUYBACK ANNOUNCED FOR 2025