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Aug 11 2023, 07:25 IST/BST
FBD continues to deliver on its strategy with customer policy growth and beginning the process of returning surplus capital to shareholders. Owning the stock has paid dividends in 2023, with €2 per share across the previously announced FY 2022 ordinary and now the special dividend, which is the third pillar of its distribution strategy. The solvency position remains well above the group’s risk appetite, supporting our view that surplus capital return will be a multi-year event. We reiterate our ‘Outperform’ rating.