Wealth Manager - the site for professional investment managers

Register to get unlimited access to Citywire’s fund manager database. Registration is free and only takes a minute.

Impax slides into the red but ups divi by 7%

Impax slides into the red but ups divi by 7%

Impax Asset Management is to raise its dividend by 7% despite slipping into the red over the year on the back of £8.7 million share scheme payout.

The specialist fund group saw revenues of £18.6 million over the 12 months to the end of September, down from £20.9 million in 2011, while its £4.7 million loss before tax compares to a £1.7 million profit the previous year. The £8.7 million to the final component of charges related to the company’s historical share-based incentive schemes and Impax has cash reserves £19.3 million.

Difficult conditions for environmental stocks contributed to the group’s assets under management falling from £1.9 billion to £1.83 billion year on year, but the board is recommending that the dividend is increased from 0.70 pence per share to 0.75 pence.

Chairmain Keith Falconer said: ‘Our cash flow remains strong and we are proposing a modest dividend increase for the year to 0.75 pence per share, in line with the board’s progressive dividend policy and reflecting our confidence in the group’s future growth potential.’

He added that the group’s cost base increased over the last 12 months as it invested in platforms for future growth. These include setting up a fund for US domestic and launching its first private equity fund.

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
Citywire TV
Play Mark Barnett - part 2: why I'm not buying Lloyds

Mark Barnett - part 2: why I'm not buying Lloyds

In the second part of our exclusive video interview, Barnett explains why he has no intention of buying Lloyds, and where he sees the greatest income opportunities.

Play Wealth managers reveal the best investment ideas of the year

Wealth managers reveal the best investment ideas of the year

From robotics to impact investing, wealth managers share the best ideas they have heard this year.

Play Baillie Gifford's Earnshaw on Xi Jinping's 'new era'

Baillie Gifford's Earnshaw on Xi Jinping's 'new era'

Sophie Earnshaw talks through what Xi Jinping's 'new era' means for investors. and why Chinese tech offers some of best growth stocks in the world.

Read More
Your Business: Cover Star Club

Profile: JM Finn on why the future is with financial planners

Profile: JM Finn on why the future is with financial planners

There is a lot of work on pension consolidation and Sipps have been a big driver there, says JM Finn chief executive

Wealth Manager on Twitter