May 7, 2020 / 9:28 AM / 21 days ago

BRIEF-Phoenix Group To Recommend Payment Of Proposed 2019 Final Dividend

May 7 (Reuters) - Phoenix Group Holdings PLC:

* PHOENIX GROUP HLDGS - PHOENIX’S CAP POSITION SUPPORTS 2019 DIVIDEND PAYMENT

* PHOENIX - REAFFIRMS BOARD’S DECISION TO RECOMMEND PAYMENT OF PROPOSED 2019 FINAL DIVIDEND

* PHOENIX - NONE OF OUR 4,400 COLLEAGUES HAVE BEEN FURLOUGHED AND STAFF REMAIN ON FULL PAY

* PHOENIX - CONTINUE TO TARGET 2020 CASH GENERATION OF £800 - £900 MILLION

* PHOENIX - NOT ACCESSED ANY GOVERNMENT SUPPORT SCHEMES AND EMPLOYEES ARE ALL RECEIVING FULL PAY WITH NONE FURLOUGHED

* PHOENIX - REMUNERATION COMMITTEE RECOGNISES IMPACT OF COVID-19 ON STAKEHOLDERS, TO CONSIDER THIS WHEN DETERMINING EXECUTIVE REMUNERATION IN 2020

* PHOENIX - ACQUISITION OF REASSURE GROUP PLC IS ON TRACK TO COMPLETE IN JULY 2020

* PHOENIX - SOLVENCY II SURPLUS INCREASED BY £0.9 BILLION FROM £3.1 BILLION(2) AS AT 31 DECEMBER 2019 TO £4.0 BILLION(1) AS AT 24 APRIL 2020

* PHOENIX - SHAREHOLDER CAPITAL COVERAGE RATIO OF 172% AS AT 24 APRIL 2020 (161% AS AT 31 DECEMBER 2019) WITHIN TARGET RANGE OF 140%-180% Source text for Eikon: Further company coverage:

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