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Despite selloff, gutting Aviva dividend the right move Add to ...

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Two steps forwards, two steps back. Aviva’s share price fell 13 per cent to £3.15 on Thursday and is now only just above the price when former chief executive officer Andrew Moss left the building last May. In the meantime, shares hit £3.88 as investors warmed to a restructuring story but the announced 44-per-cent dividend cut has some investors slamming the book shut. What a contrast with the last time Aviva cut its dividend in 2009; that decision was greeted with a 5-per-cent rise in the share price.

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