How Resolution has fared during 2012
The life group, which in the last few years has acquired Friends Provident, Axa UK Life and Bupa Health Assurance, doesn't seem to have impressed investors with its progress.%VIRTUAL-SkimlinksPromo%
At the time, Mike Biggs, Resolution's chairman, said the company was "committed to returning surplus cash not required by the business to shareholders subject to market conditions and receiving the appropriate regulatory approvals."
However, during July, Resolution announced it had "determined that it would be inappropriate to make the £250 million capital return originally targeted for the first half of 2012 and consequently announces its cancellation."
Mike Biggs then lamented:
"I understand that shareholders will be very disappointed that the Board has concluded not to return a second £250 million of capital but it would be inappropriate to do so against the backdrop of heightened investment, economic and regulatory uncertainty."
Then in August, Resolution's results showed half-year profits falling to £163 million, although the interim payout was lifted 5% to 7.05p per share
No doubt Resolution's investors will be hoping for better share-price progress next year, helped perhaps by receiving that postponed £250 million return of capital. For the moment, the trailing 20.49p per share dividend supports a 9.4% potential yield.
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