Hansard Global
Website:
Hansard Global
Index:
FTSE Fledgling
EPIC: HSD
Supersector:
Insurance
Sector:
Life Insurance
Subsector:
Life Insurance
Market Cap:
£69.77M
Payout Frequency: Semi-Annual
Hansard Global Dividend Analysis and Summary
Key Dividend Details
- Interim dividend: 1.8p per share (unchanged vs prior years)
- Ex-dividend date: 12/03/2026
- Record date: 13/03/2026
- Payment date: 23/04/2026
- Total cash outlay (interim): ~£2.5m
- Portion of the dividend paid in USD (FX translation variance immaterial)
- Dividends to be paid by bank transfer (no paper cheques)
Dividend Sustainability and Growth Outlook
- Cover (near term): H1 basic EPS 1.9p vs interim DPS 1.8p implies thin coverage (~1.1x) on six-month earnings; management notes several non-recurring items boosted H1 profit and may not recur at the same level in H2.
- Cash and capital support: Group cash and deposits £62.9m; Risk-Based Solvency surplus £47.5m with a 171% solvency ratio. Interim dividend (~£2.5m) appears well covered by capital headroom.
- Operating momentum: Fees up 4% (to £22.2m), expenses down 4%, AUA up 8% to £1.22bn. However, management reiterates that product investments take time to translate into sustainably higher profits.
- Policy trajectory: Interim held flat at 1.8p, indicating a maintain stance rather than growth. Management expects a full-year profit uplift, which would help underpin maintenance of the payout.
Support from Financial Performance and Capital Allocation
- Earnings quality: IFRS PBT £2.6m (up from £0.5m) benefited from market-driven gains and one-offs; underlying drivers include higher fee income and lower litigation costs.
- Cash generation: Net operating cash inflow £5.7m before investment in new business and dividends; net cash outflow after dividends of £2.1m reflects ongoing growth investment.
- Capital discipline: Strong solvency buffer and conservative treasury (MMFs, deposits, IG bonds). Parent company retained earnings £9.8m (sufficient for dividends despite negative consolidated retained earnings).
- FX risk management: Post period, forward FX contracts initiated to hedge USD-linked income, supporting earnings stability that underpins dividends.
Structural or Strategic Items Affecting Future Dividends
- Japan launch: Locally licensed proposition went live post period; initial volumes modest with momentum expected to build into 2027. Potential long-term support for earnings but not an immediate dividend catalyst.
- Business mix/product evolution: Ongoing product enhancements and increased single-premium mix aid AUA and fee income trajectory.
- Dividend administration change: Payments via bank transfer only (no cheques) – administrative, not policy-related.
Risks and Flags to Dividend Stability
- High near-term payout ratio: Interim DPS nearly equals H1 EPS; some H1 earnings were non-recurring.
- Litigation exposure: Outstanding writs net exposure €22.8m/£19.9m (largely historic EU cases). Insurance recoveries help, but adverse outcomes could add cost/volatility.
- Market/FX sensitivity: AUA and fee income exposed to market levels and USD/GBP; hedging helps but does not eliminate risk.
- Management statement: If sustained lower new business or AUA persists, cost reductions would be pursued and, if necessary, the dividend could be reduced.
Read more
Hansard Global Annual Dividend Yield - 8.64%
Dividends Used in Calculation:
| Ex-Dividend Date |
Payment Date |
Type |
Amount |
Currency |
| 13/03/2025 |
24/04/2025 |
Interim |
1.80p |
GBX |
| 02/10/2025 |
13/11/2025 |
Final |
2.65p |
GBX |
Total (Annual Dividends Per Share):
4.45p
Dividend Yield =
Annual Dividends Per Share (4.45p)
÷ Share Price (51.5p)
= 8.64%
Hansard Global Dividend History
| Ex Dividend Date |
Payment Date |
Type |
Amount |
Currency |
| 12/03/2026 |
23/04/2026 |
Interim |
1.8000p |
GBX |
| 02/10/2025 |
13/11/2025 |
Final |
2.65p |
GBX |
| 13/03/2025 |
24/04/2025 |
Interim |
1.80p |
GBX |
| 03/10/2024 |
14/11/2024 |
Final |
2.65p |
GBX |
| 14/03/2024 |
25/04/2024 |
Interim |
1.80p |
GBX |
| 05/10/2023 |
16/11/2023 |
Final |
2.65p |
GBX |
| 16/03/2023 |
27/04/2023 |
Interim |
1.80p |
GBX |
| 29/09/2022 |
10/11/2022 |
Final |
2.65p |
GBX |
| 09/03/2022 |
21/04/2022 |
Interim |
1.80p |
GBX |
| 30/09/2021 |
11/11/2021 |
Final |
2.65p |
GBX |
| 11/03/2021 |
20/04/2021 |
Interim |
1.80p |
GBX |
| 01/10/2020 |
12/11/2020 |
Final |
2.65p |
GBX |
| 12/03/2020 |
21/04/2020 |
Interim |
1.80p |
GBX |
| 03/10/2019 |
14/11/2019 |
Final |
2.65p |
GBX |
| 14/03/2019 |
23/04/2019 |
Interim |
1.80p |
GBX |
| 04/10/2018 |
15/11/2018 |
Final |
2.65p |
GBX |
| 01/03/2018 |
10/04/2018 |
Interim |
1.80p |
GBX |
| 05/10/2017 |
16/11/2017 |
Final |
5.30p |
GBX |
| 02/03/2017 |
30/03/2017 |
Interim |
3.60p |
GBX |
| 29/09/2016 |
17/11/2016 |
Final |
5.30p |
GBX |
| 03/03/2016 |
31/03/2016 |
Interim |
3.60p |
GBX |
| 01/10/2015 |
19/11/2015 |
Final |
5.25p |
GBX |
| 05/03/2015 |
02/04/2015 |
Interim |
3.50p |
GBX |
| 01/10/2014 |
13/11/2014 |
Final |
5.00p |
GBX |
| 05/03/2014 |
03/04/2014 |
Interim |
3.40p |
GBX |
| Year |
Interim |
Final |
Currency |
Total |
Change |
| 2024 |
1.800 |
2.650 |
GBX |
4.450 |
0.000 |
| 2023 |
1.800 |
2.650 |
GBX |
4.450 |
0.000 |
| 2022 |
1.800 |
2.650 |
GBX |
4.450 |
0.000 |
| 2021 |
1.800 |
2.650 |
GBX |
4.450 |
0.000 |
| 2020 |
1.800 |
2.650 |
GBX |
4.450 |
0.000 |
| 2019 |
1.800 |
2.650 |
GBX |
4.450 |
0.000 |
| 2018 |
1.800 |
2.650 |
GBX |
4.450 |
-50.000 |
| 2017 |
3.600 |
5.300 |
GBX |
8.900 |
0.000 |
| 2016 |
3.600 |
5.300 |
GBX |
8.900 |
1.710 |
| 2015 |
3.500 |
5.250 |
GBX |
8.750 |
4.160 |
| 2014 |
3.400 |
5.000 |
GBX |
8.400 |
|
Hansard Global Dividend Calculator
Hansard Global Dividend Growth
| Dividend Growth (1Y) |
–
|
| Dividend CAGR (5Y) |
–
|
| Years of Growth |
–
|
| Payout Ratio |
150%
|
| Buyback Yield |
–
|
| Shareholder Yield |
8.71%
|
| P/E Ratio (TTM) | 17.62 |
|---|
| Forward P/E | 18.72 |
|---|
| P/FCF | 10.73 |
|---|
| Earnings Yield | 5.73% |
|---|
| FCF Yield | 9.32% |
|---|
| ROE | 24.24% |
|---|
| ROCE | 0.41% |
|---|
| Profit Margin | 2.21% |
|---|
| Operating Margin | 3.09% |
|---|
| Gross Margin | 91.82% |
|---|