Magellan Hits Fiscal 2018 Results for Six, Increases Payout Ratio. FVE Raised to AUD 28.
Narrow-moat-rated Magellan Financial Group reported a strong fiscal 2018 result driven by increased funds under management, or FUM, and a subsequent 8% increase in net profit after tax, or NPAT, to AUD 212 million. The strong result prompted management to increase the 2018 dividend by 57% to AUD 1.35 per share, which was well above market expectations and to raise the payout ratio. All this during what has been a busy, and not always smooth year for the fund manager. A year which included a succ...Magellan Financial Group is engaged in funds management, providing international investment funds to high net worth and retail investors in Australia and New Zealand, and institutional investors globally. Co.'s main operating company is Magellan Asset Management Limited (MAM). Co.'s key operating segments are: Funds Management, in which MAM undertakes the funds management activities and MFG Services LLC acts as a service company providing MAM with services of investment analysts and distribution personnel; and Principal Investments, which include investments in the ASX Quoted Funds, the Unlisted Magellan Funds, and a select portfolio comprising Australian and international listed companies.
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