Challenger (ASX:CGF) announced 4% growth in interim dividend; Shares up on ASX

On 14 February 2023, Challenger Limited (ASX:CGF) announced its 1H FY2023 results and noted a 5% jump in its NPAT to AU$250 million, with the higher earnings driven by solid Life book growth plus improved COE margins.

• Statutory NPAT declined 56% to AU$123 million, impacted by negative investment experience due to investment market movements resulting in largely unrealised investment experience.
• CGF announced interim dividend of AU12 cents fully franked, up 4%.
• Life sales increased 11%, driven by record annuity sales growth with retail annuity sales growth of 89%.
• In FY2023, CGF expects profit growth to continue and reaffirms its FY2023 guidance range for normalised NPBT in the range of AU$485 million and AU$535 million.

At AEDT 12:47 PM, CGF shares are trading at AU$7.660, up 5.509% from the previous close. 

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