Aviva
Website:
Aviva
Index:
FTSE 100
EPIC: AV.
Supersector:
Insurance
Sector:
Life Insurance
Subsector:
Life Insurance
Market Cap:
£18.69B
Payout Frequency: Semi-Annual
Aviva Dividend Analysis and Summary
Key Dividend Details
- Dividend type: Final dividend for year ended 31/12/2025
- Dividend per share: 26.2 pence
- Ex-dividend date: 26/03/2026 (derived from the record date)
- Record date: 27/03/2026
- Payment date: 14/05/2026 (ADRs approximately four business days later)
- Approval: Subject to shareholder approval at the 2026 AGM
- DRIP election deadline: 22/04/2026
- Conditionality: Dividend remains cancellable at the Directors’ discretion under PRA rules until paid
Dividend Sustainability and Coverage
- Capital position: Aviva reports an estimated Solvency II shareholder capital surplus of £7.1bn at 31/12/2025, indicating material headroom to support distributions, subject to maintaining coverage above regulatory requirements.
- Regulatory overlay: The dividend is explicitly cancellable until payment to comply with Prudential Regulation Authority requirements. The Board states no intention to cancel unless needed to meet legal/regulatory constraints (e.g., if Solvency Capital Requirement coverage would be breached).
- Earnings/cash flow detail: This announcement does not provide profit or cash flow figures; therefore, cash coverage and payout ratios cannot be assessed from the RNS alone.
Dividend Growth and Trajectory
- The RNS discloses a final DPS of 26.2p but does not provide prior-year comparatives or an indicated full-year DPS. As such, year-on-year growth and trajectory cannot be determined from this notice alone.
- Board continues to propose a final dividend, implying an ongoing commitment to distributions, contingent on capital strength and regulatory approval.
Capital Allocation and Policy Signals
- No buybacks or special dividends are mentioned in this announcement.
- A Dividend Reinvestment Plan is available (election deadline 22/04/2026), offering shareholders an option to reinvest while the company maintains flexibility over cash outflows.
Structural Changes and Other Considerations
- No structural actions (e.g., demergers, M&A, or share consolidation) are disclosed in this RNS that would impact dividend policy or mechanics.
Risks and Flags
- Regulatory cancelability: The dividend can be withdrawn up to payment date if required to comply with PRA rules, notably if Solvency II coverage were to fall below the SCR or would do so post-payment.
- Market sensitivity: As a diversified insurer, Aviva’s solvency and distributable capacity are sensitive to market movements (rates, credit spreads, equities); while not flagged as issues here, they remain ongoing risk factors for dividend stability.
Read more
Aviva Annual Dividend Yield - 5.92%
Dividends Used in Calculation:
| Ex-Dividend Date |
Payment Date |
Type |
Amount |
Currency |
| 10/04/2025 |
22/05/2025 |
Final |
23.80p |
GBX |
| 28/08/2025 |
16/10/2025 |
Interim |
13.10p |
GBX |
Total (Annual Dividends Per Share):
36.90p
Dividend Yield =
Annual Dividends Per Share (36.90p)
÷ Share Price (623.6p)
= 5.92%
Aviva Dividend History
| Ex Dividend Date |
Payment Date |
Type |
Amount |
Currency |
| 26/03/2026 |
14/05/2026 |
Final |
26.2000p |
GBX |
| 28/08/2025 |
16/10/2025 |
Interim |
13.10p |
GBX |
| 10/04/2025 |
22/05/2025 |
Final |
23.80p |
GBX |
| 05/09/2024 |
17/10/2024 |
Interim |
11.90p |
GBX |
| 11/04/2024 |
23/05/2024 |
Final |
22.30p |
GBX |
| 24/08/2023 |
05/10/2023 |
Interim |
11.10p |
GBX |
| 30/03/2023 |
18/05/2023 |
Final |
20.70p |
GBX |
| 18/08/2022 |
28/09/2022 |
Interim |
10.30p |
GBX |
| 07/04/2022 |
19/05/2022 |
Final |
14.70p |
GBX |
| 26/08/2021 |
07/10/2021 |
Interim |
7.35p |
GBX |
| 08/04/2021 |
14/05/2021 |
Final |
14.00p |
GBX |
| 10/12/2020 |
21/01/2021 |
2nd Interim |
7.00p |
GBX |
| 13/08/2020 |
24/09/2020 |
Interim |
6.00p |
GBX |
| 23/04/2020 |
02/06/2020 |
Final |
21.40p |
GBX |
| 15/08/2019 |
26/09/2019 |
Interim |
9.50p |
GBX |
| 11/04/2019 |
30/05/2019 |
Final |
20.75p |
GBX |
| 16/08/2018 |
24/09/2018 |
Interim |
9.25p |
GBX |
| 05/04/2018 |
17/05/2018 |
Final |
19.00p |
GBX |
| 05/10/2017 |
17/11/2017 |
Interim |
8.40p |
GBX |
| 06/04/2017 |
17/05/2017 |
Final |
15.88p |
GBX |
| 06/10/2016 |
17/11/2016 |
Interim |
7.42p |
GBX |
| 07/04/2016 |
17/05/2016 |
Final |
14.05p |
GBX |
| 08/10/2015 |
17/11/2015 |
Interim |
6.75p |
GBX |
| 08/04/2015 |
15/05/2015 |
Final |
12.25p |
GBX |
| 09/10/2014 |
17/11/2014 |
Interim |
5.85p |
GBX |
| 02/04/2014 |
16/05/2014 |
Final |
9.40p |
GBX |
| 09/10/2013 |
15/11/2013 |
Interim |
5.60p |
GBX |
| Year |
Interim |
Final |
Currency |
Total |
Change |
| 2024 |
11.900 |
22.300 |
GBX |
34.200 |
208.100 |
| 2023 |
11.100 |
|
GBX |
11.100 |
-75.710 |
| 2022 |
10.300 |
35.400 |
GBX |
45.700 |
114.050 |
| 2021 |
7.350 |
14.000 |
GBX |
21.350 |
-37.930 |
| 2020 |
6.000 |
21.400 |
GBX |
34.400 |
13.710 |
| 2019 |
9.500 |
20.750 |
GBX |
30.250 |
7.070 |
| 2018 |
9.250 |
19.000 |
GBX |
28.250 |
16.350 |
| 2017 |
8.400 |
15.880 |
GBX |
24.280 |
13.080 |
| 2016 |
7.420 |
14.050 |
GBX |
21.470 |
13.000 |
| 2015 |
6.750 |
12.250 |
GBX |
19.000 |
24.590 |
| 2014 |
5.850 |
9.400 |
GBX |
15.250 |
172.320 |
| 2013 |
5.600 |
|
GBX |
5.600 |
|
Aviva Dividend Calculator
Aviva Dividend Growth
| Dividend Growth (1Y) |
10.08%
|
| Dividend CAGR (5Y) |
2.04%
|
| Years of Growth |
2
|
| Payout Ratio |
118.72%
|
| Buyback Yield |
-6.52%
|
| Shareholder Yield |
-0.07%
|
| P/E Ratio (TTM) | 23.09 |
|---|
| Forward P/E | 10.26 |
|---|
| P/FCF | – |
|---|
| Earnings Yield | 4.11% |
|---|
| FCF Yield | -14.25% |
|---|
| ROE | 10.7% |
|---|
| ROCE | 0.88% |
|---|
| Profit Margin | 3.22% |
|---|
| Operating Margin | 11.21% |
|---|
| Gross Margin | 19.18% |
|---|