The Brooks Macdonald Board has recommended a final dividend of 40.0p (FY20: 32.0p) which, subject to approval by shareholders, will result in total dividends for the year of 63.0p (FY20: 53.0p). This represents an increase of 25.0% in the final dividend and 18.9% in the total dividend on the previous year and underlines the Board's confidence in the prospects for the Group, and a commitment to a progressive dividend policy. The final dividend will be paid on 5 November 2021 to shareholders on the register at the close of business on 24 September 2021.
Other financial highlights include:
Group FUM reached record level of £16.5 billion (up 20.3% on FY20)
Net flows improved each quarter and were positive in H2 at a Group level, with the core UKIM discretionary business positive for the full year, demonstrating organic growth momentum which has continued into FY22 with both months positive
Group revenue of £118.2 million, up 8.8% on FY20, driven by FUM growth and the successful integration of the two recently acquired businesses
Underlying profit margin up by 4.7 points to 25.9%, in line with the Group's commitment to deliver top quartile margin over the medium term
Continued strong investment performance of 15.8% for the year, well ahead of the 12.9% for the MSCI PIMFA Private Investor Balanced Index
Improved performance and underlying profit margin in both the UKIM and International business segments, in part boosted by the contribution of the acquired businesses