LONDON, May 13, 2026, 17:01 BST
- Prudential has filed for the admission of 5,721,904 new ordinary shares on the London market, these linked to its 2025 second interim scrip dividend.
- This comes on the dividend payment date for holders in Hong Kong, the UK, and those with American depositary receipts.
- The share sale follows a 10% rise in first-quarter new business profit, though analysts remain focused on whether growth can pick up pace.
Prudential plc has put in for 5,721,904 new ordinary shares to be listed on the main market of the London Stock Exchange this Wednesday, marking another move in its 2025 second interim dividend process. According to a filing, the new shares—each carrying a nominal value of 5 pence—will stand on equal footing with current ordinary shares once they’re issued.
The date isn’t random. On Wednesday, Prudential pays out its 2025 second interim dividend to holders in Hong Kong, the UK, and to those with American depositary receipts—those ADRs trade in the U.S. as proxies for foreign stocks. Singapore investors are scheduled to receive their payments about May 20.
Scrip dividends hand shareholders the choice: new shares in place of a cash payout. Prudential plans to issue 345,912 of these shares via a share dealing facility, specifically targeting UK investors unable to give a Hong Kong address or an eligible Hong Kong brokerage account—both necessary for shares held on the Hong Kong line.
The company has previously stated it aims to offset any minor dilution from the scrip issue—meaning existing shareholders’ stakes shrink slightly—by buying back shares on the open market. This is part of a larger capital-return push. Back in March, Reuters reported that Prudential was targeting more than $7 billion in payouts to shareholders between 2024 and 2027, with a $1.3 billion return specifically lined up for 2027.
Prudential keeps its London base, though the company’s focus now sits squarely on Asia and Africa. The insurer writes life and health policies and handles asset management across Greater China, ASEAN, India, and Africa, maintaining dual primary listings in both Hong Kong and London.
Things have improved since last year, though challenges linger. Prudential reported a 10% bump in first-quarter new business profit, reaching $686 million at constant exchange rates. Annual premium equivalent sales climbed 6% to $1.823 billion. The new business margin added two points, moving to 38%.
Chief Executive Anil Wadhwani described the latest quarter as “broad based” and emphasized a push for “high-quality growth.” Wadhwani reiterated the group’s confidence in delivering double-digit growth on major financial measures in 2026, adding that the company is on track to achieve its 2027 targets. Prudential
Not everyone was impressed. Henry Heathfield at Morningstar called Prudential’s update “in line” but said it “lacks energy,” pointing out that new business profit growth of 10% came in well under the company’s 15%–20% strategic goal. Morningstar is sticking with its £12.70 fair value estimate and a high uncertainty rating for the shares. Morningstar
Matt Britzman, senior equity analyst at Hargreaves Lansdown, noted that things were trending positively for now, thanks to stronger sales and better margins, but emphasized that momentum still needs to pick up from here. He highlighted growth in Hong Kong, Asia’s relatively low insurance penetration, and Prudential’s focus on technology. Still, Britzman cautioned that any missteps could end up derailing the company’s targets.
AIA Group stands out as the closest public comp, showing a 13% bump in first-quarter value of new business to $1.76 billion—fueled mainly by demand from Hong Kong and China. According to Reuters, Hong Kong operations jumped 21%, while the China unit posted a 26% increase. The figures underscore that the bar remains high for Asia-focused insurers.
Capital discipline might take a back seat as macro headwinds intensify. Prudential flagged the risk that energy-fueled inflation could weigh on consumer sentiment and spending in ASEAN, and UOB Kay Hian’s Kenny Lim Yong Hui told Reuters that if oil prices remain high, secondary impacts from costlier energy may soon surface.
A May 13 filing revealed that senior executives—among them Wadhwani and CFO Ben Bulmer—picked up modest amounts of stock on May 11, participating in Prudential’s all-employee share purchase plan at 11.387677 pounds per share. These routine, minor buys land as just another disclosure on a day already thick with dividend mechanics and capital returns.
