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Intermediate Capital Group hikes dividend for financial year ended March 31

U.K.-based Intermediate Capital Group PLC's board recommended a final ordinary dividend of 35 pence per share for the financial year ended March 31, up from 21 pence per share offered in the same period a year ago.

The recommendation resulted in an year-over-year increase in total ordinary dividend to 45 pence per share, up from the year-ago 30 pence per share. The final ordinary dividend, subject to shareholder approval, will be paid Aug. 6 to shareholders on the register as of June 14.

The asset manager reported profit attributable to equity holders of the parent of £180.1 million in the year to March 31, down from £251 million in the previous year.

Total third party assets under management amounted to €34.5 billion on March 31, up from €26.5 billion on April 1, 2018.