Close Brothers Group plc declares dividend of 22p per share

DividendMax Ltd.

Close Brothers Group plc declares dividend of 22p per share

Close Brothers Group plc has declared an interim dividend of 22.0p (H1 2021: 18.0p), returning to the pre-pandemic level. The interim dividend is due to be paid on 27 April 2022 to shareholders on the register at 25 March 2022.

Other financial highlights include:

Group statutory operating profit increased 1% to £128.9 million, with adjusted operating profit also up 1% to £129.8 million, reflecting 12% income growth in Banking and 14% in Asset Management, offset by a reduction in trading income in Winterflood

The annualised bad debt ratio of 1.1% (H1 2021: 1.3%) primarily reflected the impact of updated loss rate assumptions for the Novitas loan book. Excluding Novitas, the annualised bad debt ratio was 0.2% (H1 2021: 0.7%), reflecting the benefit of provision releases and strong underlying credit performance across our business

The Asset Management division saw positive momentum, generating annualised net inflows of 8%, with adjusted operating profit up 18% to £14.5 million

Common equity tier 1 ("CET1") capital ratio was 15.1% (31 July 2021: 15.8%)

Return on opening equity ("RoE") of 12.2% (H1 2021: 13.2%) 

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