Intermediate Capital announce interim ordinary dividend up 50% to 15.0p per share

DividendMax Ltd.

Intermediate Capital announce interim ordinary dividend up 50% to 15.0p per share

The Intermediate Capital Board has approved an interim dividend of 15.0p, an increase of 50% on the prior year interim dividend and in line with the Company’s stated policy that the interim dividend will equate to a third of the prior year total dividend. The dividend will be paid on 14 January 2020 to shareholders on the register on 6 December 2019.

Other financial highlights include:

AUM up 11% on 31 March 2019 to €41.1bn, with €4.6bn of new money raised across 14 strategies

Fund Management Company profits up 32% to £85.0m (H1 2019: £64.4m); average fee rates maintained

Group profit before tax on an IFRS basis up 24% to £153.4m (H1 2019: £124.0m)

Earnings per share of 50.8p (H1 2019: 43.6p); Fund Management Company 28.4p (H1 2019: 21.4p) and Investment Company 22.4p (H1 2019: 22.2p)

Positive outlook underpins increase in operating margin target to be in excess of 50%, up from 43% previously

Companies mentioned