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Standard Life plc - Annual Report and Accounts 2007
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Dividends

Our dividend policy is to pay a progressive dividend. During the year, the Group paid the final dividend for 2006 of 5.4p per share, amounting to £114m, and the 2007 interim dividend of 3.8p per share, amounting to £83m. We have proposed a final dividend of 7.7p per share, approximately £167m in total, to be paid in May 2008. Dividends in relation to the 2007 financial year including the interim would therefore be 11.5p per share or £250m in total. Dividend cover for 2007 of 2.9 times compares to 2.2 times for our first dividend paid in May 2007 in respect of our performance after demutualisation from the period 10 July 2006 to 31 December 2006. Dividend cover is calculated as IFRS underlying profit after tax and minority interest divided by the current year interim dividend plus the proposed final dividend.