Close Brothers increases its 2014 full year dividend by 10%

DividendMax Ltd.

Close Brothers increases its 2014 full year dividend by 10%

Highlights

Adjusted operating profit up 20% to £200.6 million and adjusted basic earnings per share up 25% to 104.1p

Good growth in the Banking division, with adjusted operating profit up 15% to £181.6 million, reflecting continued loan book growth of 14% to £5.3 billion and an improved bad debt ratio of 0.9%

In Securities, Winterflood's adjusted operating profit increased 57% to £26.6 million as trading conditions improved and investor risk appetite increased

Adjusted operating profit in Asset Management more than doubled to £9.9 million and Assets under Management ("AuM") were up 7% to £9.7 billion driven by net inflows of 5%

Common equity tier one capital ratio remains strong at 13.1% under CRD IV while return on opening equity1 improves to 18.5%

Full year dividend per share up 10% to 49.0p

Companies mentioned