Aberdeen hikes dividend after revenue gains
FUND manager Aberdeen Asset Management yesterday said it had upped its full year dividend payout to investors by 28 per cent, capping off a solid year of double digit revenue and profit growth for the FTSE 100-listed firm.
Aberdeen, which was set up in the granite city in 1983, took its final investor payout up 37 per cent, giving shareholders a full year dividend of 11.5p, up from 9p last year.
This came despite a “difficult and uncertain year” for markets, the firm said. The business has grown revenues consistently over the past few quarters while also keeping its cost base under control.
Yesterday it reported that full year revenues had shot up 11 per cent over the year to £869.2m – sending its operating margin over the magic 40 per cent mark.
Chief executive Martin Gilbert yesterday said emerging market debt products would be a growth area for the firm.
Aberdeen recently attempted to slow the flow of money into its emerging market equity funds but yesterday reported £1.3bn inflows.
“It’s higher than we would like. We’re looking at other measures to slow it down without hard closing funds,” Gilbert said.