Ashmore Group have recommended a final dividend of 12.1pence per share

DividendMax Ltd.

Ashmore Group have recommended a final dividend of 12.1pence per share

The Ashmore Group Board, taking into consideration the profit for the year, the substantial cash flows delivered, the strength of the balance sheet and the continued long-term growth opportunities available to Ashmore, has recommended a final dividend of 12.1 pence per share. The cost of the dividends paid and declared in respect of FY2021/22 is £118.2 million, which represents 54% of the Group's cash flows before dividends generated in the period.

If approved by shareholders, the dividend will be paid on 9 December 2022 to all shareholders on the register on 4 November 2022.

Other financial highlights include:

- Assets under management (AuM) of US$64.0 billion. Widespread risk aversion due to Ukraine war, inflation and higher rates globally contributed to net outflows of US$13.5 billion and negative investment performance of US$16.6 billion

- Adjusted net revenue of £257.2 million, 13% lower YoY, with net management fees of £243.5 million and performance fees of £4.5 million

- Continued strong cost management reduced adjusted operating costs by 7% YoY, delivering adjusted EBITDA of £164.3 million, adjusted EBITDA margin of 64% and operating cash flow of £184.9 million

- H2 market weakness resulted in £49.9 million unrealised mark-to-market loss on seed capital investments. Consequently, statutory profit before tax declined by 58% to £118.4 million

- Consistent balance sheet strength with approximately £800 million of capital resources including £542 million of cash

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