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Jupiter Fund Management announce total dividends per share of 17.1p

Investment Tools Ltd.
Jupiter Fund Management announce total dividends per share of 17.1p

The Jupiter Fund Management Board has declared an unchanged full-year ordinary dividend for the year of 9.2p per share. This results in a total ordinary dividend for the year of 17.1p, the same as 2018, representing an ordinary dividend pay-out ratio of 59% of underlying earnings. Following the announcement of the proposed acquisition of Merian Global Investors, no special dividend has been declared for the year ended 2019 as Jupiter balances investment for long-term growth with distribution to Jupiter shareholders. The Jupiter Board's priority continues to be to maintain its capital strength, including a robust surplus over regulatory capital requirements and it remains committed to returning surplus regulatory capital in excess of needs to shareholders, aligned to the Group's capital allocation framework.

The full-year dividend payment will be paid on 9 April 2020 to shareholders on the register on 13 March 2020. The Board does not seek approval for dividend payments at the AGM.

Other financial highlights include:

Strong investment performance, with 72% of mutual fund AUM above median over three years. 14% of segregated mandates and investment trusts were above their benchmarks over three years. 

Increase of £0.1bn in AUM, after net outflows of £4.5bn 

Net management fees decreased by 6% to £370.0m

Statutory profit before tax decreased by 16% to £151.0m

Basic earnings per share decreased to 27.5p

Underlying profit before tax decreased by 11% to £162.7m

Underlying earnings per share decreased by 11% to 28.8p

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