The Ashmore PLC Board intends to pay a progressive ordinary dividend over time, taking into consideration factors such as the prospects for the Group's earnings, demands on the Group's financial resources, and the markets in which the Group operates.
Consistent with this approach and recognising the strong statutory profit growth, driven by largely unrealised seed capital gains, and the lower adjusted profits, the Directors have recommended a final dividend of 12.1 pence per share for the year ending 30 June 2021 (FY2019/20: 12.1 pence), which if approved by shareholders will be paid on 10 December 2021 to all shareholders on the register on 5 November 2021. Total dividends paid and recommended for the year of 16.9 pence (FY2019/20: 16.9 pence) are covered 2.0x by diluted earnings per share.
Other financial highlights include:
- Investment performance delivered performance fees of £11.9 million and seed capital gains of £92.5 million
- Adjusted net revenue of £296.6 million, 9% lower YoY reflecting stage in the recovery cycle and impact of mix effects on net management fee margin
- Strict cost management reduced non-VC operating costs by 6% and delivered adjusted EBITDA margin of 66%
- Adjusted EBITDA declined by 12% to £195.7 million
- Profit before tax increased 28% to £282.5 million
- Operating cash flow of £213.1 million and well-capitalised, liquid balance sheet maintained
- Diluted EPS increased 33% to 34.2 pence and adjusted diluted EPS fell by 11% to 23.3 pence