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NEW YORK (Reuters) – The shares of British insurer Phoenix Group Holdings are attractive for several reasons, including their inclusion in a key UK stock index and a stable and substantial dividend, according to Barron's.
Starting Monday, the Phoenix group will be part of the FTSE 100 Index, which means fund managers who follow this index will have to buy the stock.
The company is also expected to pay a larger dividend than its counterparts in the life insurance industry, according to Barron's. The article cited a report by Barclays predicting a 7.5% dividend yield in Phoenix this year, more than 7% for the Legal & General group and 6.7% for the Dutch life insurer Aegon.
Phoenix group shares rose 24% in 2019.
(Report by Lewis Krauskopf, edited by Cynthia Osterman)
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