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.”

Related Posts

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.

ISAs: your back-to-basics guide for 2018/19

Here’s everything you need to know to make the most of your unused ISA allowance ahead of the 5 April deadli...

A guide to Sharia savings accounts

A number of Sharia savings products have upped their game in recent months, beating more familiar competitors ...

Five ways to get on the property ladder without the Bank of Mum and Dad

A report suggests the Bank of Mum and Dad is running low on funds. Fortunately, there are other options for st...

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.

Having a baby and your finances: seven top tips

We’re guessing the Duchess of Cambridge won’t be fretting about maternity pay or whether she’ll still be...

Protecting family wealth: 10 tips for cutting inheritance tax

Inheritance tax - sometimes known as 'death tax' - can cause even more heartache for bereaved families. But th...

Travel insurance: Five tips to ensure a successful claim

Ahead of your summer holiday, it’s important to make sure you have the right level of travel cover or you co...

Money Tips of the Week

  • Adult siblings who live together could be exempt from paying ‘unfair’ inheritance tax when transferring property af…
  • RT @WhichPress: A third of people will pay too much tax due to confusion around self-assessment expenses - Read the full story from @WhichU
  • Major plan launched to transform how people engage with money and pensions - Your Money by @yourmoneyuk

Read previous post:
Energy bill price hike for millions of vulnerable families

Five million vulnerable households will see their energy bills rise by £47 a year.