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Magellan Financial Group ups final dividend

Australia's Magellan Financial Group Ltd. raised its final dividend for the fiscal year ended June 30.

The company declared a 75% franked final dividend of A$1.114, up from the prior fiscal year's dividend of 90 Australian cents per share.

Together with an interim dividend of 73.8 cents per share, the company's total dividend for the fiscal year came to A$1.852, up from A$1.345 in the prior fiscal year.

The final dividend is payable Aug. 29 to shareholders on record as of Aug. 19.