St. James’s Place Plc (STJ) reported a 23 percent jump in net inflows in the first half as the U.K. wealth manager and insurer increased its payout to shareholders by 40 percent.
Net inflows were 2.44 billion pounds ($4.1 billion) in the six months to June 30, the London-based company said in a statement today. Funds under management climbed to a record 47.6 billion pounds, up 19 percent, and the interim dividend rose to 8.93 pence a share.
“Growth has continued in 2014 and given this performance and our confidence about the future, the board has agreed an increase in the dividend at the top end of the range signaled earlier in the year,” Chief Executive Officer David Bellamy said in the statement. The company anticipates a “similar increase” in the full-year payout, he said.
The insurer reported a 12 percent gain in operating profit to 260.7 million pounds and a 19 percent increase in earnings from new business to 181.3 million pounds. Total single investments climbed 21 percent to 3.92 billion pounds, boosted by 27,000 new clients, the statement showed.
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