Shares of Old Mutual jump in Johannesburg as the financial services group says it will pay out 1 billion pounds ($1.58 billion) in a special dividend of 18 pence per ordinary share.
Old Mutual sold its Nordic business in 2011 for $3.34 billion. The insurer says it will use the remainder of the proceeds to reduce debt.
Old Mutual shares are up 2.9 percent at 18.89 rand, outpacing a 0.37 percent drop in the benchmark Top-40 index. - Reuters
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