News: Perpetual profit falls

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    Perpetual Limited (ASX:PPT) has posted a net profit for the year to June 30 of $62 million. That’s a 31 per cent fall from the year before of $90.5 million.



    Subdued equity markets and cost and efficiency initiatives have been blamed for the drop in profit.



    Perpetual intends to return up to $70 million of surplus capital to shareholders through an off-market buy-back tender process.



    The fund manager will pay a final dividend of 90 cents a share, fully franked, taking the full year dividend to $1.85.

 
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