Woodford and Newman shared dividends of £13.8m before closure

Latest accounts show profits fell to £16.2m to 31 March 2019

Neil Woodford and Craig Newman received dividends totalling £13.8m in the 12 months to the end of March 2019, as Woodford Investment Management faced a growing crisis that ultimately led to its closure in October last year.

According to accounts filed by Woodford Investment Management yesterday (6 January) for the 12-month period, interim dividends amounting to £13.8m were paid to Woodford Capital, an unlimited company controlled by its directors. Fund manager Woodford owned 65% of the company, while the other 35% was owned by Newman, meaning the two directors took home around £9m and £4.8m respectively. Aberdeen Standard Investments to take over Woodford Income Focus The company reported profits after tax for the year to end of March of £16.2m, significantly lower than the £33.7m profit it made in 20...