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Magellan Financial Group hikes final dividend

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

The company's board declared a fully franked dividend of 90 Australian cents per share, up from 47.2 cents per share in the prior-year period, according to an Aug. 9 release.

Together with a fully franked interim dividend of 44.5 cents per share, the company's total dividend for the fiscal year grew to A$1.345 per share from 85.6 cents per share in the year-ago period.

The final dividend will be given Aug. 27 to shareholders on record as of Aug. 15.