Progress on vision for Standard Life

Standard Life raised its full-year dividend by 8% yesterday as it declared progress in its mission to become a “world-class investment company”.

Results show the Edinburgh head quartered group grew its assets under management by 16% in 2016 to £357.1 billion.

Fee-based revenue climbed 5% to £1.65bn, while operating profits before tax came in 9% higher at £723m.

The full-year dividend was 19.82 p, up from2015’ s18.36p.

CEO Keith Skeoch said: “Despite industry headwinds, we are benefiting from our strengthening global brand and strong long-term relationships with a well diversified range of clients and customers.”