16th Jul 2019 14:58
(Alliance News) - City of London Investment Group PLC on Tuesday reported an 11% dip in profit in its recently ended financial year.
The stock was flat in the afternoon trade on Monday in London at 430.00 pence a share.
The asset management company said funds under management were USD5.4 billion as at June 30 compared to USD5.1 billion reported a year prior, representing a 6% increase for the year.
For the year to June 30, City of London Investments said its pretax profit will be GBP11.4 million, lower compared to GBP12.8 million the year before.
The company proposed a final dividend of 18p per share, unchanged from the year earlier. This would bring the total dividend payment for the year to 40.5p, including the special dividend of 13.5p paid in March, In its financial 2018, the company paid a total dividend of 27p.
City of London Investments said it will announce its annual results on September 16.
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