Prudential Declares Demerger Dividend - Quick Facts

(RTTNews) - Prudential plc (PRU.L, PUK) said a committee of its Board has approved the demerger dividend. Qualifying shareholders are entitled to receive one share of Jackson's Class A common stock for every 40 Prudential shares held by them at the record time.

Following the declaration, Prudential has completed the demerger of Jackson. Jackson is now an independent company listed on the NYSE. Jackson's class A common stock is expected to commence regular way trading on 20 September 2021.

Prudential will retain an initial holding of 19.9 percent voting interest in Jackson. The company plans to sell down this initial holding within 12 months, such that Prudential expects to own less than 10 percent of Jackson's total combined voting power.

Mike Wells, Group Chief Executive of Prudential, said: "With the demerger of Jackson completed, Prudential's businesses are focused exclusively on Asia and Africa providing life and health insurance and asset management."