UK Platform Transformation Programme
Updated financial guidance continued
Debt costs
Cash conversion
Dividend
Capital
Previous guidance
£200m subordinated debt at 4.478%
Approximately 80% of post-tax operating profit from
continuing operations into free cash, partially used to
fund debt servicing costs and targeted distribution
acquisitions
Distribution acquisitions expected to be up to £20m p.a.
Board to walk up target 40-60% pay-out ratio from point of
Listing
Expect 2020 dividend pay-out ratio to be at the top end of
target pay-out range
Dividend per share growth dependant on share buyback pace
Subordinated debt security issued to ensure sufficient
capital and liquidity to maintain strong capital ratios and
free cash balances to withstand severe but plausible
stress scenarios
No change
Updates to guidance
No change
No change
Decision on overall 2020 pay-out ratio to be taken at FY20
Results - dependent on market conditions, share buyback
progress and business outlook, in line with policy
No change
Other items
Seasonal dynamics ➤ FSCS levies paid in first half of year
No change
Quilter
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