Questor: Investors aren't happy with this company's strategy, but should stay patient [Yahoo! Finance]
LEGAL&GENL GRP PLC S/ADR (LGGNY)
NASDAQ:AMEX Investor Relations:
merriam-webster.com/dictionary/legal
Company Research
Source: Yahoo! Finance
However, we are still holding a stock where the forecast dividend looks safe and well backed by both the balance sheet and cash flow, so the prospective yield of 9.1pc seems more than enough justification to stay patient, especially for those investors who are seeking income. On the face of it, Legal & General's refined strategy seems perfectly sensible. New chief executive officer António Simões is focusing the life insurance and investment giant on three core divisions, selling non-core assets such as its housebuilder Cala, and seeking to enhance shareholder returns through dividend growth and share buybacks. This column is particularly pleased to see an emphasis on pension risk transfers for workplace pension schemes as our initial investment thesis of last summer is at least partially based upon this being a growth driver for the FTSE 100 member over the long term. However, the share price reaction has been one of disappointment, especially after a five-month build-up to th
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