Third Point has also criticized Prudential for prioritizing dividend growth over reinvestment, but Wells said the company's dividend policy was "appropriate".

WATER Labour has proposed renationalising water companies, which have been criticized for prioritizing dividends and executive pay over preventing leaks and improving water quality.

In the letter, addressed to Prudential's board of directors, Third Point also blamed the company's management for prioritizing dividend payouts over reinvesting in the business.