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Liontrust Asset Management hikes dividend as annual profit more than doubles

By BFN News | 07:32 AM | Wednesday 23 June, 2021


Fund management group Liontrust Asset Management hiked its dividend after reporting annual profit that more than doubled as assets under management and advice were boosted by net inflows. For the year ended 31 March 2021, pre-tax profit rose 116% to £34.9 million year-on-year as revenue increased 54% to £164 million. Assets under management and advice, or AuMA, jumped 92% to £30.9 billion as net inflows grew 30% to £3.50 billion. AuMA as at 18 June 2021 were £33.270 billion. The company declared a second interim dividend of 36.0 pence per share, up from 24.0 pence, taking its total dividend for the financial year to 47.0 pence per share, an increase of 42% compared with last year. 'The momentum behind the business is demonstrated by the industry's sales figures for the first three months of 2021,' the company said. 'According to the Pridham Report, Liontrust had the third highest net retail sales in the UK in the first quarter of the year and was placed fifth for gross retail sales,' it added. Story provided by StockMarketWire.com

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