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Quilter nudges final dividend higher even as adjusted profit slips
StockMarketWire.com
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Wealth manager Quilter, which was recently spun out of Old Mutual, nudged up its final dividend after it posted a fall in adjusted earnings that it said nevertheless beat market expectations.
Adjusted pre-tax profit for the year through December fell 7.7% to £168 million.
Quilter declared a final dividend of 3.6p per share, up from 3.5p year-on-year, though at 4.6p, its dividend for the full year was lower than the previous year's 5.2p.
Statutory pre-tax profit, which included one-off gains and losses, increased to £86 million, up from £45 million, and assets under management climbed 7% to £117.8 billion.
'Now with significant progress made on our transformation, we are wholly focussed on driving growth and efficiency through even better customer outcomes,' chief executive Paul Feeney said.
Story provided by StockMarketWire.com
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