Aviva Posts 10% Drop In 2012 Operating Profit, Cuts Dividend

Aviva PLC

reported a 10% drop in its 2012 operating profit and lowered its final dividend to 9 pence. Aviva's operating profit from continuing operations fell to GBP1.89 billion, from GBP2.09 billion, in the year-ago period. Its profit before tax declined to GBP2.13 billion from GBP2.50 billion. Its total loss after tax came in at GBP3.05 billion, versus a year-ago profit of GBP60 million. Aviva shares closed at $10.91 yesterday.