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Quilter to pay special dividend for H1

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Quilter to pay special dividend for H1

Recently listed Quilter PLC said it will pay a special dividend of 12.0 pence per share from the surplus proceeds generated by the sale of its single-strategy asset management business.

The U.K.-based asset manager, formerly Old Mutual Wealth, closed at the end of June the sale of its single-strategy asset management business to the single-strategy management team and funds managed by TA Associates for £583 million. Quilter's demerger from Old Mutual Plc, part of the latter's managed breakup, was completed June 25 when it listed on the London and Johannesburg stock exchanges.

Quilter will pay the special interim dividend Sept. 21 to shareholders on the U.K. and South African share registers as of Aug. 24. The return of capital to shareholders is equivalent to £221 million.

Quilter reported an adjusted profit after tax attributable to ordinary shareholders of £101 million for the first half, compared to £80 million in the same period of 2017. Adjusted EPS for the period stood at 5.5 pence, up from 4.4 pence a year earlier.

Old Mutual Plc is now South Africa-based Old Mutual Ltd.