LONDON, April 2, 2026, 19:15 BST
Prudential plc set the reference price at which shareholders can take new shares instead of cash for its 2025 second interim dividend at $13.834482 per ordinary share on Thursday. In a separate filing, the Asia-focused insurer said it had also repurchased 351,297 shares on April 1, continuing its 2026 buyback.
The update matters because Prudential has leaned harder on capital returns after stronger 2025 growth, telling investors in March it expected to return more than $7 billion over 2024-2027. It also reported a 12% rise in annual new business profit at the time.
Under Prudential’s Evergreen Scrip Dividend Scheme, eligible holders can choose new Hong Kong-listed shares instead of cash. The option applies to the 18.89-cent second interim dividend announced on March 18; holders needed at least 74 shares on the March 27 record date, and most UK and Hong Kong elections close on April 21.
Cash payments for Hong Kong, UK and ADR holders are due on May 13, while Prudential expects to announce the issue of new shares under the option on or around April 24. Singapore investors face an earlier election cutoff of April 14.
Thursday’s buyback filing showed Prudential paid an average £10.7939 a share through J.P. Morgan Securities and plans to cancel the stock, leaving 2,526,599,459 shares in issue. The purchase sits inside a programme launched in January that the company said could run to $1.2 billion by Dec. 18, 2026.
When that programme was unveiled, Chief Executive Anil Wadhwani said Prudential was focused on “consistent delivery of shareholder returns.” After the group’s March results, Marc Jocum, senior product and investment strategist at Global X ETFs, said he was constructive on buybacks and shareholder returns as a theme for 2026. Prudential
Prudential is not alone. Peer AIA Group announced a $1.7 billion buyback in March after posting record 2025 new business value, underlining how large Asian insurers are using excess capital to support payouts while still chasing growth in Hong Kong and mainland China.
But the scrip route is not guaranteed. Prudential says the board may scrap the share alternative and pay cash only if the London middle-market price falls 15% or more from the scrip reference price by the election deadline, and the company has also said there is no guarantee the wider buyback will be carried out in full.
Prudential lifted the second interim dividend to 18.89 cents a share from 16.29 cents a year earlier after Hong Kong new business profit rose 12% and its mainland China joint venture posted 27% growth in 2025. Douglas Flint is due to replace Shriti Vadera as chair in May.
