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The FTSE 100‘s home to a vast array of dividend-paying companies. However, Phoenix Group Holdings (LSE:PHNX) currently wears the crown for the highest level of shareholder payouts this month. At 9.8%, shareholders are supposedly earning near-double-digit returns from dividends alone.
That certainly sounds like it’s too good to be true. Yet, after digging a little deeper, this generous yield migh be here to stay. Let’s take a closer look.
A rising insurance titan
When it comes to life insurance, industry leaders like Aviva and Legal & General have historically dominated the space. Yet, Phoenix Group has been steadily and quietly growing in size despite the fierce competition.
Today, the company has £283bn of assets under administration. That still pales in comparison to Legal & General’s £1.16trn. But considering this number stood at just £68.6bn 10 years ago, Phoenix…
