Schroders Company has paid first and second interim dividends of 3.25 pence per share for the year ending 31 August 2025, up from 2.50 pence per share in 2024. The share of the total dividend linked to the first three interim dividends for FY 2025 is anticipated to be greater than in previous financial years, with the fourth interim dividend projected to be lower. This reflects the Board's commitment to providing shareholders with a more consistent dividend distribution in FY 2025 and beyond.
Other financial highlights include:
- The Company has reduced its investment management services fee from 0.45% to 0.40% with effect from 1 September 2025. Furthermore, such fees will be charged on the lesser of market capitalisation or NAV of the Company. In addition, the separate fee for secretarial and administration services will be eliminated. The positive effect of these moves, all other things being equal, will be an annual cost reduction of over £300,0001 (at an assumed prevailing 10% discount to NAV) or 0.4p per share.
- The Company has adopted an increasingly active attitude to managing the volatility and level of any discount of share price to NAV. The objective is to reduce the discount's volatility and look to maintain the discount to NAV within a single-digit range, in normal market conditions. The Board believes this best reflects the underlying strength of the portfolio and is in the shareholders' long-term interests.
- Matt Bennison has been promoted to Co-Manager of the Company, bringing his experience to work alongside Sue Noffke, Head of UK Equities, effective immediately. Matt began his investment career at Schroders in 2012 and has worked with Sue since 2015 as part of the Schroders' UK Prime team. For eight years, since 30 September 2017, he has supported the Company's portfolio and that same year expanded his role to include fund management responsibilities, becoming co-manager of the Prime UK Equity strategy. The appointment reflects our commitment to strengthening the Company's investment management team and ensuring continuity in their strategy to deliver long-term value for shareholders.
- The Company's NAV total return in the six months to 28 February 2025 was 2.9%. This compares to 5.2% for the FTSE All-Share Index.
