Close Brothers increases 2013 full year dividend by 7%

DividendMax Ltd.

Close Brothers increases 2013 full year dividend by 7%

Strong financial results

Strong group performance with adjusted operating profit up 24% to £166.5 million and adjusted basic earnings per share up 23% to 83.1p

Strong growth in the Banking division, with adjusted operating profit up 17% to £157.8 million, reflecting continued loan book growth of 13% to £4.6 billion and an improved bad debt ratio of 1.2%

Despite difficult markets, adjusted operating profit in Securities improved slightly to £25.7 million

Asset Management returned to profitability as expected, with 9% growth in AuM to £9.1 billion

Maintained prudent funding and liquidity positions and increased core tier 1 capital ratio to 13.3%

Full year dividend per share up 7% to 44.5p

Companies mentioned