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Charles Stanley Group proposes higher divided for fiscal year 2018

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Charles Stanley Group proposes higher divided for fiscal year 2018

U.K.-based Charles Stanley Group PLC proposed a final dividend for the fiscal year ended March 31 of 5.5 pence per share, up from 4.5 pence per share a year earlier.

On top of an interim dividend of 2.5 pence per share, the final dividend brings the total dividend for the year to 8.0 pence per share, up on a yearly basis from 6.0 pence per share. The final dividend will be paid July 31 to shareholders on the register at close of business June 28.

The company reported a profit attributable to owners of the parent company for the period of £8.7 million, up from the year-ago £6.3 million. EPS came in at 16.93 pence, up year over year from 12.34 pence.

Charles Stanley said it expects greater volatility and lower returns due to rising inflation. Greater volatility is also expected in the U.K., at least in the short term, given the uncertainties that still surround Brexit.