Brooks Macdonald Group announce a full year dividend up 5.6% to 75.0p

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Brooks Macdonald Group announce a full year dividend up 5.6% to 75.0p

The Brooks Macdonald Board has recommended a final dividend of 47.0p (FY22: 45.0p), which, subject to approval by shareholders, will result in total dividends for the year of 75.0p (FY22: 71.0p). This represents an increase of 5.6% in total dividend on the previous year and underlines the Board's confidence in the prospects for the Group. The final dividend will be paid on 3 November 2023 to shareholders on the register at the close of business on 22 September 2023.

Other financial highlights include:

Group Funds Under Management ("FUM") reaching £16.8 billion (FY22: £15.7 billion), up 7.5% on prior year

Positive net flows every quarter, 5.2% at Group level for the full year (FY22: 4.8%), with the third quarter highest at an annualised level of 9.2%

Robust investment performance given market conditions of 2.3% for the year, ahead of the 1.6% increase in the MSCI PIMFA Private Investor Balanced Index

Revenue of £123.8 million (FY22: £122.2 million), up 1.3% driven by positive net flows and investment performance, a contribution from acquisitions, and increased interest income, partly offset by product mix effects

Underlying profit of £30.3 million (FY22: £34.5 million), maintaining a robust underlying profit margin of 24.5% (FY22: 28.2%), in line with the Group's commitment to deliver top quartile margins, despite difficult market conditions and the impact of cost pressures

Strong capital position with a robust balance sheet, including an appropriate buffer over regulatory capital requirements

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