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Jupiter Fund Management lifts dividend as FY'17 profit increases YOY

U.K.-based Jupiter Fund Management Plc declared a full-year 2017 ordinary dividend of 10.3 pence per share, up from 10.2 pence per share a year ago, as its consolidated profit rose to £154.8 million from £136.3 million in 2016.

The asset manager's total 2017 ordinary dividend stands at 17.1 pence per share, a rise from 14.7 pence per share in 2016. The firm also declared a special dividend of 15.5 pence per share, compared to 12.5 pence per share in the year-ago period.

Jupiter said the full-year and special dividends, 32.6 pence per share in total and 20% higher than 27.2 pence per share in 2016, will be paid out April 6 to shareholders on the register March 9.

As of 2017-end, assets under management amounted to £50.2 billion, up from £40.5 billion in 2016.

Operating profit came in at £193.0 million, up on a yearly basis from £171.1 million, while pretax profit amounted to £192.9 million, compared to £171.4 million a year prior. Diluted EPS stood at 33.7 pence, up from 29.6 pence in the prior year.