The Brooks Macdonald Board has recommended a final dividend of 45.0p (FY21: 40.0p), which, subject to approval by shareholders, will result in total dividends for the year of 71.0p (FY21: 63.0p). This represents an increase of 12.7% in total dividend on the previous year and underlines the Board's confidence in the prospects for the Group, despite the challenging macroeconomic environment, and our commitment to a progressive dividend policy. The final dividend will be paid on 4 November 2022 to shareholders on the register at the close of business on 23 September 2022.
Other financial highlights include:
Group Funds Under Management ("FUM") closing at £15.7 billion (down 4.8% on FY21) as positive net flows were offset by the impact of declining markets on asset values
Positive net flows throughout the year, now five successive quarters, with net flows for the full year of 4.8%, representing a £1.1 billion improvement on prior year
Flows particularly strong in the fourth quarter (three months to 30 June 2022) with the annualised rate reaching 6.7% and 8.6% for Group and UK Investment Management respectively
Group revenue of £122.2 million, up 3.4% on FY21, driven by higher average FUM and the full year impact of the Group's acquisition of the Lloyds Channel Islands business
Underlying profit margin up by 2.3 points to 28.2%, in line with the Group's commitment to deliver top quartile margin over the medium term
Investment performance across the range of services of (9.6)% for the year, driven by declining and volatile markets
