Insurance giant Aviva has announced it will offer a discretionary goodwill payment of up to £14m to shareholders who sold preference shares from 8 to 22 March, following criticism over plans to cancel £450m of high-yielding preference shares at par value, which it later scrapped.
Aviva announced its intention to cancel the preference shares on 8 March 2018, following legal advice owing to regulatory requirements, which mean preference shares will no longer count as regulatory capital...
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