Shareholders in Just Group (JUST) are feeling the sting of the Prudential Regulation Authority’s (PRA) plans to implement tighter capital requirements for equity-release mortgages. The life insurer has raised £300m in tier one debt and £75m via a share placing to boost capital levels, and has also pulled its final dividend after already deferring the interim payment. The dividend will now be rebased to around a third of the 3.72p paid in 2017.
IC TIP:
Hold
at
82p