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Quilter PLC on Wednesday said it returned to profit in 2021, saw assets under management and administration rise and announced a new shareholder return scheme.
In Johannesburg and London, Quilter shares registered strong gains after reporting on Wednesday it had swung to a pretax profit of £12 million in 2021 from £27 million loss in the prior year.
Quilter declared a final dividend of 3.9 pence, lifting the full-year payout to 5.6 pence from 4.6 pence previously.
The wealth manager's assets under management and administration rose 13% to £111.8 billion at the end of December 31, up from £99.0 billion, with net inflows increasing to £4.0 billion from £1.5 billion.
In addition, it proposed a £328 million capital return plan, implemented through a B share issue. It will issue redeemable B shares, which will be reclaimed in cash. The return will equate to 20 pence per share, Quilter explained.
‘We are pleased to be delivering good results in these difficult times with significant geopolitical tensions at the centre of all our concerns,’ Chief Executive Paul Feeney warned, alluding to Russia's invasion of Ukraine.
Quilter shares rose by 7.7% at 126.70 pence each in London on Wednesday morning. The stock 6.4% stronger at R 25.23 in Johannesburg.
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