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2 ASX 200 shares that keep growing their dividends
Tristan Harrison | February 11, 2021 2:22pm |
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One of the two businesses in this article announced another increase today:
Magellan is one of the biggest funds management businesses in Australia, with Hamish Douglass at the helm of the investing team.
Whilst the performance fees and performance special dividends can be variable, the ordinary dividend of Magellan continues to climb.
In the result for the first half of FY21, Magellan decided to increase the interim dividend by 5% to 97.1 cents per share.
That dividend was declared with the release of its report. The ASX 200 dividend share showed that average funds under management (FUM) went up 9% to $100.9 billion, with management and service fees revenue up 8% to $311.4 million. Profit before tax and performance fees of the funds management business went up 8% to $256.2 million.