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L&G’s shares fall on dividend cut fears

Legal & General was one of the biggest fallers in the FTSE 100 this morning as investors fear a dividend cut will be announced as part of the firm’s interim results tomorrow.

L&G’s share price has fallen 1.63 per cent to 63.4p from a close of 64.45p on Friday.

According to reports, the firm is expected to cut its dividend by up to half.

L&G cut its dividend in March from 4.1p the pervious year to 2.05p a share. It posted losses of £1.1bn on ordinary activities after tax on an IFRS basis.

Aviva is also likely slash its dividend when it publishes its interim results on Thursday, reports say.

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