Brooks Macdonald increases its 2016 full year dividend by 15%

DividendMax Ltd.

Brooks Macdonald increases its 2016 full year dividend by 15%

Business Highlights: 

In Brooks Macdonald's 25th year of operation, it reached £8.3bn of discretionary FUM.

Substantially, all of the growth of discretionary FUM was organic:

o Organic growth (net new discretionary business) of £863m (11.7%) excluding market growth of £25m.

o As a comparison, the WMA Balanced index increased by 4.59% over the year.

Property assets under administration, managed by Braemar Estates, of £1.10bn (June 2015 £1.14bn).

Third-party assets under administration are now in excess of £270m (June 2015: >£255m).

A proposed final dividend of 23.0p (2015: 20.5p) per share, resulting in a 15% increase in total dividends proposed for the year of 35.0p (2015: 30.5p).

Commenting on the results and outlook, Chris Macdonald, CEO, said:

"This has been a good year for the business in spite of some significant headwinds from political and market uncertainty.

"Brooks Macdonald has come a long way over the last 25 years; we are well positioned strategically, have a strong balance sheet, are growing our brand, have high-quality staff across the Group, are working with an increasing number of professional intermediaries and are constantly developing our investment offering.

"We have made a good start to the new financial year, with further organic growth in discretionary FUM and look forward with confidence."

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