Standard Life Aberdeen cuts dividend as client base shrinks
Standard Life Aberdeen has slashed its dividend by a third and disclosed today that it has started to lose overall client business again.
The FTSE 100 fund management group said it was “rebasing” the dividend and would freeze it at the new low level until it was better covered by the amount of new capital it was generating.It also reported underlying net outflows for the full year of £3.1 billion. While this was down from £17.4 billion in the prior year, it showed a worsening from the position at the half year, when it reported a positive net inflow figure of £100 million.
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