Wealth Manager - the site for professional investment managers

Register to get unlimited access to all of 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 Potential US rate rise, cheap oil & the Europe opportunity

Potential US rate rise, cheap oil & the Europe opportunity

This week we analyse the implications of a possible rise in US interest rates, the impact of cheap oil and the European equity opportunity.  

Play Carmignac's Crowl: what QE could mean for Europe

Carmignac's Crowl: what QE could mean for Europe

The ECB is widely expected to finally fire its QE gun this week. Carmignac's Sandra Crowl discusses the implications for the eurozone.

Play Grexit worries, currency wars and a grizzly outlook for 2015?

Grexit worries, currency wars and a grizzly outlook for 2015?

The first Investment Pulse of the year looks at the potential impact of Greece leaving the euro, volatility in currency markets and the UK’s economic prospects.

Your Business: Cover Star Club

Profile: DIY investing is biggest threat to industry, says Whitechurch

Profile: DIY investing is biggest threat to industry, says Whitechurch

The industry is at risk of pushing potential investors down the DIY route unless it does more to make its services accessible says the Whitechurch Securities boss

Wealth Manager on Twitter