26th Feb 2015 09:19
LONDON (Alliance News) - Jupiter Fund Management PLC hiked its dividend on Thursday, including the declaration of a special dividend, as its assets under management increased in 2014 and its pretax profit surged higher.
The FTSE 250-listed investment manager said its final dividend for the year has been increased to 9.5 pence per share, up from 9.1 pence per share, giving it a total dividend payout of 13.2 pence for the year against 12.6 pence in 2013. In addition, it has declared a special dividend of 11.5 pence per share, comprising 6.6 pence generated from earnings and 4.9 pence from the sale of private client contracts.
The inclusion of the special dividend means its total payout has nearly doubled to 24.7 pence per share, against 12.6 pence last year.
Pretax profit for Jupiter rose to GBP160 million in the year from GBP114.1 million a year ago. Its net revenue for the year increased to GBP303 million from GBP288.5 million. The pretax profit gain was driven higher by the sale of its private clients contracts to Rathbone Brothers PLC.
Jupiter's net inflows for the year totalled GBP0.9 billion, against GBP1.2 billion in 2013, and its total assets under management stood at GBP31.9 billion at the end of the year, against GBP31.7 billion at the end of 2013.
"It has been another busy and successful year for Jupiter. We have made encouraging progress on diversifying and growing our core mutual fund franchise. Positive investment performance, healthy organic inflows and an efficient operating platform, combined with the sale of our private client contracts, has seen continued value creation for our clients and total dividends double to 24.7 pence, said Jupiter Chief Executive Maarten Slendebroek.
Jupiter shares were up 0.5% to 408.60 pence on Thursday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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