LACHLAN MOFFET GRAY25 MINUTES AGO | 10.12AMIOOF special dividend after profit jump
IOOF Holdings has declared a special dividend after it almost doubled its half-year profit after the company grew funds under administration and gross margin in the period.
Net profit after tax lifted 96 per cent to $54.4m after funds under administration, management and advice lifted 39 per cent to $202.4bn.
A fully franked interim dividend of 8 cents per share was declared, as well as a special dividend of 3.5 cents a share.
The company said the growth in funds under administration came in spite of a $699m outflow under the government’s COVID-19 early release of super scheme.
The company said it would complete its acquisition of MLC and implement $65m-$85m in synergies by the end of the financial year.
Ann: 1H21 Results Announcement, page-12
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