The Board recommended a Final Dividend of 3.3 pence per share at a total cost of £45 million. Subject to shareholder approval at the 2023 Annual General Meeting, the recommended dividend will be paid on 22 May 2023 to shareholders on the UK and South African share registers on 21 April 2023 (the "Record date"). For shareholders on their South African share register, a Final Dividend of 72.78087 South African cents per share will be paid on 22 May 2023, using an exchange rate of 22.05481. This will bring the dividend for the full year to 4.5 pence per share (2021: 4.0 pence per share).
At Quilter Plc's Capital Markets Day on 3 November 2021, they announced a revised Group dividend policy. The new policy sets a target pay-out range of 50% to 70% of post-tax, post-interest adjusted profits, revised from 40% to 60% of post-tax adjusted profits previously and applies for the 2022 financial year.
Other Financial Highlights:
- Assets under Management and Administration ("AuMA") of £99.6 billion at the end of December 2022, a decrease of 11% from 31 December 2021 (£111.8 billion)
- Broadly stable revenues of £606 million (2021: £618 million) largely supported by net interest income on corporate cash balances coupled with strong expense discipline delivering a reduction in costs, despite inflationary pressures. They delivered adjusted profit before tax of £134 million (2021: £138 million) and a stable operating margin of 22%.
- Excellent progress made on plans to deliver additional cost efficiencies and proposition enhancements.
- Final Dividend of 3.3 pence per share versus 2.8 pence for 2021, bringing the recommended total dividend for the year to 4.5 pence per share, an increase of 13% on the continuing business dividend for 2021 of 4.0 pence per share.
- Special capital return of £328 million to shareholders from the sale of Quilter International through a B share issue coupled with share consolidation. Their total share count has declined by c.25% since their Listing in 2018.
- Adjusted diluted earnings per share from continuing operations of 7.9 pence (2021: 7.4 pence).
- Basic earnings per share from continuing operations of 12.2 pence (2021: 1.4 pence).
