Canadian performance boosts Standard Life A stronger performance by its Canadian arm has helped Standard Life increase its annual dividend 6 per cent. However, the insurer's annual results, released on Tuesday, also disclosed that new business volumes had been somewhat muted in early 2012 compared with its buoyant start to 2011. Standard Life's operating profit increased 28 per cent to £544m in 2011, up from £425m in 2010. This was better than the £476m that had been predicted by analysts, according to consensus figures circulated by the company. The increase was partly driven by a 70 per cent rise in operating profit at its Canadian arm, which was helped by a property disposal gain. However, it was also swelled by a non-recurring £64m gain related to its UK pension scheme that analysts had not been factoring in. Standard Life said the comparatively muted new business performance so far in 2012 was related to the "uncertain economic backdrop and its effect on consumer confidence" but did not quantify this effect. David Nish, chief executive, said: "Growth [in new business volumes] has more shifted towards the back end of the year." Pre-tax profit - which factors in the short-term fluctuations in investment return and economic assumption changes excluded from operating profit - fell from £971m to £595m. Diluted earnings per share fell from 18.3p to 12.9p. A final dividend of 9.2p per share has been proposed, making a total of 13.8p for the year, an increase of 6 per cent. Shares in Standard Life rose 2 per cent to 242.2p in early morning trading in London, making it the strongest performer in the FTSE 100 index of leading London-listed companies. The shares have risen by a quarter over the past three months, comfortably outperforming the FTSE 100 in the process.