MAM Funds to pay dividend for first time in four years

MAM Funds has returned to the dividend register for the first time in four years, as it reported a £3.5m rise in cash on its balance sheet during 2011.

In its results for the year ended 31 December 2011, MAM saw net revenue increase by 6%, while funds under management climbed 5% to £1.7bn. Pre-tax earnings rose by £100,000 to £4.5m, while adjusted profit before tax rose 40% to £3.6m, reflecting improved underlying business performance and a significant fall in interest charged, the group said. The firm will pay a dividend per share of 0.4p. The Midas funds have seen outflows in 2011, which the group said it is looking to address, while the two newest additions to the fund range – the Acuim UK Multi Cap Income fund and its OEIC mir...