Quilter £221m special dividend

QUILTER, the wealth manager spun out of Old Mutual, promised to pay a special £221m dividend to investors yesterday as it reported a 2pc rise in total assets since December. The dividend, worth 12p a share, is the result of Quilter’s sale of its £31bn single strategy funds business, run by Richard Buxton, for £583m in June.

Assets under administration in the six months to the end of June were £116.5bn, up 2pc from December. Ad- justed pre-tax profit rose 16pc to £110m on a year ago.