The Brooks Macdonald Board has recommended a final dividend of 32.0p (FY19: 32.0p) which, subject to approval by shareholders at the AGM, will result in total dividends for the year of 53.0p (FY19: 51.0p). This represents an increase of 3.9% on the previous year and reaffirms the Board's confidence in the strength of the business even in the context of the COVID-19 pandemic, and a commitment to a progressive dividend policy. The final dividend will be paid on 6 November 2020 to shareholders on the register at the close of business on 25 September 2020.
Other financial highlights include:
Underlying profit margin up from 19.6% to 21.2%, in line with the Group's commitment to increase profit margin in the medium term
Record Group revenue of £108.6m, underlying profit of £23.0m, and year-end FUM of £13.7bn
Strong overall investment performance for the financial year to 30 June of 1.0%, protecting their clients' wealth in volatile markets, well ahead of the MSCI PIMFA Private Investor Balanced Index which declined by 3.5% over the same period
Improved underlying profit in all three segments, including International which is delivering increased momentum in its profitability
Committed to delivering top quartile underlying profit margin over the medium term