The AJ Bell plc Board has declared an interim dividend of 3.50 pence per share, equating to a 26% increase from prior year (HY22: 2.78 pence per share). This represents a higher payment than would have resulted from applying their stated interim dividend policy, which would have resulted in an increase in the interim dividend of only 6% compared to an increase in diluted earnings per share for the period of 57%. The Board has therefore decided to declare a higher interim dividend to ensure the growth in interim dividend more closely aligns with the phasing of financial performance during the current year. The full year dividend policy of paying out 65% of statutory profit after tax remains unchanged.
Other financial highlights include:
●Strong financial performance, with revenue up 37% to £103.6 million (HY22: £75.5 million) and profit before tax (PBT) up 61% to £41.9 million (HY22: £26.1 million)
●PBT margin of 40.4% (HY22: 34.6%), driven by an increased revenue margin of 29.0bps (HY22: 20.3bps)
●Diluted earnings per share up 57% to 7.96 pence (HY22: 5.08 pence)
