Hargreaves and Lansdown cash in on dividend rise
Hargreaves Lansdown, the investment broker, shrugged off choppy markets and the threat of a crackdown by regulators to post a 46 per cent rise in earnings and a 41 per cent increase in the assets it looks after for clients.
The Bristol-based company, which started life as a two-man operation run by founders Peter Hargreaves and Stephen Lansdown, also showed its confidence by raising its dividend. The total payment for the year has been increased 59 per cent to 18.87p a share. That means that Mr Hargreaves will receive nearly £29m while Mr Lansdown will make nearly £21m.
The broker said that while capital requirements on almost every financial business have increased, it did not have a pressing need for cash so a higher payout was "appropriate".
The company reported that its Vantage fund platform had added 50,000 clients since June 2010, taking the number of active clients to 380,000. Hargreaves Lansdown holds £24.6bn under administration.
The chief executive Ian Gorham also said he believed the company could thrive, despite the fears over the economy that have shaken the markets and led many investors to pull their money out of equities amid sharp swings in prices.
The company repeated its view that proposed rules to crack down on payments made by asset managers to platforms that sell their funds would not harm its business.
Easter egg hunt horror as mother finds dead body under deck of house
Missing Malaysia Airlines Flight MH370: Wreckage could be found within a week as search reaches 'very critical juncture', says minister
The new people’s republic of east Ukraine
Loch Ness Monster found on Apple Maps?
Royal Tour 2014: Is the Duchess of Cambridge the only person ever to climb into a fighter jet wearing a dress and high heels?
The food poverty scandal that shames Britain: Nearly 1m people rely on handouts to eat – and benefit reforms may be to blame
Scottish independence: It is the English who should be on their knees, begging the Scots to vote ‘No’
Nigel Farage fatigue? Half of voters ‘immune’ to Ukip’s appeal
'Sinful': Video of British Muslims dancing to Pharrell Williams's hit Happy comes under attack
Nigel Farage: I’m taking on the status quo, and the Establishment’s fighting back
Refugee facing deportation from Sweden saved by fellow passengers refusing to let plane leave
- 1 Easter egg hunt horror as mother finds dead body under deck of house
- 2 'Natural' energy drink banned for containing erectile dysfunction drug
- 3 A bottle of wine a day is not bad for you and abstaining is worse than drinking, scientist claims
- 4 Loch Ness Monster found on Apple Maps?
- 5 Kingdom Tower: Construction of 1km high new world’s tallest building to begin next week in Saudi Arabia
iJobs Money & Business
£150.00 per week: QA Apprenticeships: This company has been providing on site ...
£221.25 per week: QA Apprenticeships: This company is a well established Inter...
£40000 - £50000 per annum: Harrington Starr: Client Relationship Manager - SQL...
£35000 - £50000 per annum: Pro-Recruitment Group: Take your chance to join the...