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Prices & Quotes - UK Markets - Paragon Banking Group (PAG)

Risk Warning The value of investments can fall as well as rise and any income from them is not guaranteed and you may get back less than you invested. Past performance is not a guide to future performance.

Share Price:
Down 460.40p
Change Today:
-4.60p
Market Cap:
1,182.01m
Sector:
Financial Services

Paragon slashes dividend as profits fall on Covid impact

By Frank Prenesti

Date: Thursday 03 Dec 2020

LONDON (ShareCast) - (Sharecast News) - Lender Paragon Bank paid a reduced dividend as it set aside 48m for bad debts due to the Covid-19 pandemic and reported lower in annual profits.
The bank said underlying profit fell to 120m from 164.4m while statutory pre-tax profit declined to 118.4m from 159m.

A full year dividend of 14.4p a share was declared "in line with policy reflecting the resilient performance and strong capital position supporting the growing momentum in the business". The bank paid 21.2p last year.

While the total loan book rose by 3.7% in the year to September 30, advances in mortgage lending slipped by almost a fifth to 1.26bn as the housing market ground to a halt during the lockdown.

Paragon's capital ratio - a measure of financial strength - stood at 14.3% compared with 13.7% in 2019. Net interest margin, the difference between rates charged on loans and paid on savings, reduced to 2.24% from 2.29%, reflecting the reduction in base rates during the year.

Looking forward, the bank said its new business pipeline was 868.1m at the year end, down from 911.7m, showing business returning to more normal levels heading into the new financial year.

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PAG Market Data

Currency UK Pounds
Price 460.40p
Change Today -4.60p
52 Week High 493.60p
52 Week Low 238.60p
Volume 451,169
Shares Issued 256.74m
Market Cap 1,182.01m

Performance Indicators

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What The Brokers Say

Strong Buy 9
Buy 1
Neutral 3
Sell 0
Strong Sell 0
Total 13
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

PAG Dividends

  Latest Previous
  Final Final
Ex-Div 28-Jan-21 09-Jan-20
Paid 26-Feb-21 17-Feb-20
Amount 14.40p 14.20p

Trades for 05-Mar-2021

Time Volume / Share Price
16:36 974 @ 460.40p
16:36 1,454 @ 460.40p
16:35 172,509 @ 460.40p
16:29 211 @ 459.80p
16:29 300 @ 459.80p

PAG Key Personnel

CEO Nigel S Terrington
CFO Richard Woodman
Chair Fiona Clutterbuck