Prudential reports solid 2024 performance, accelerates capital return

** Prudential Plc (HKEX: 2378) released its Annual Report for 2024, showcasing positive financial results alongside announcements regarding capital allocation and returns to shareholders. The company reported an adjusted operating profit of USD 3.129 billion, an increase of 10% on a constant exchange rate basis, driven by growth across key markets. Recognizing strong capital management and a focus on shareholder returns, Prudential approved a 13% increase to the total dividend for the year (2024) of 23.13 cents per share, and provided an accelerated timeline for the ongoing USD 2 billion share buyback program to now complete by the end of 2025. As part of this value and returns strategy, ICICI Prudential Asset Management may be put up for partial sale. Additionally, after careful consideration, management continues to invest in core capabilities that supports long term company goals. To improve comparability among peers, financial reporting will be done using the Traditional Embedded Value (TEV).