You are here: Home - Investing - Experienced Investor - News -

Standard Life Aberdeen brings forward plan to return £1.75bn to shareholders

Written by: Paloma Kubiak
Standard Life Aberdeen has announced it will bring forward plans to return up to £1.75bn to shareholders, with the first tranche of £175m starting in the next few days.

The figure includes a return of £1bn via a share scheme which was expected later in Q3, following the proposed sale to insurance group Phoenix, and the return of up to £750m by a share buyback programme.

The fund management giant, created out of a merger between Standard Life and Aberdeen Asset Management revealed it has also proposed an interim dividend of 7.30p per share, an increase of 4.3% as it looks to “maintain its progressive dividend policy”.

At the time of the proposed merger, the firms expected annual cost savings of around £200m within three years, but it is now targeting a total of over £350m of savings.

However, as part of the H1 2018 results released today, Standard Life Aberdeen revealed that net outflows “remain a challenge in a tough market” as it saw outflows of £16.6bn in the period.

Pre-tax profit came in at £127m, down from the £344m reported in H2 2017, but up from the £94m reported a year earlier.

Assets under management came in at £610.1bn, compared with £627bn in the previous year.

Martin Gilbert and Keith Skeoch, chief executive officers, said: “Conditions for the asset management industry continue to be challenging. However, our gross inflows remain robust and are spread across a diverse range of investment capabilities, and our market-leading adviser platforms continue to grow.

“We will still have one of the strongest balance sheets in the sector, which enables us to continue to develop and broaden our areas of strength and focus on delivering long-term performance for our clients.”

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

Autumn Statement: Everything you need to know at a glance

Yesterday Chancellor Jeremy Hunt made his first fiscal statement in the role, outlining a range of tax measure...

End of Help to Buy: 10 alternatives for first-time buyers

The deadline for Help to Buy Equity Loan applications passed on 31 October. If you’re a first-time buyer who...

Moving to an energy prepayment meter: Everything you need to know

As households struggle with the soaring cost of energy, tens of thousands of billpayers are expected to move o...

What will happen if rates change

How your finances will be impacted by a rise in interest rates.

Regular Savings Calculator

Small regular contributions can build up nicely over time.

Online Savings Calculator

Work out how your online savings can build over time.

DIY investors: 10 common mistakes to avoid

For those without the help and experience of an adviser, here are 10 common DIY investor mistakes to avoid.

Mortgage down-valuations: Tips to avoid pulling out of a house sale

Down-valuations are on the rise. So, what does it mean for home buyers, and what can you do?

Five tips for surviving a bear market mauling

The S&P 500 has slipped into bear market territory and for UK investors, the FTSE 250 is also on the edge. Her...

Money Tips of the Week