Ensuring its solvency will be welcomed by the City

Legal & General is expected to cut its final dividend this week when the insurer unveils its full year results, The Telegraph reports

Although L&G is not expected to pass its final dividend at Wednesday’s results, analysts have estimated that a 17pc cut could be on the cards in light of recessionary pressures. Last year it paid a final dividend of 4.1p, giving a total payout of 5.97p.

After Aviva was slammed for paying a dividend, which some saw as eating into its reserves, The Telegraph suggest the L&G move will be welcomed.

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