Andy Brown’s £43m divi jackpot

STAR fund manager Andy Brown has made a multi-million pound fortune from taking a long-term view of companies as diverse as Philip Morris, Dr Pepper Snapple, Domino’s Pizza and Procter & Gamble.

Now the founder of Cedar Rock Capital has added a record £43 million dividend payment to his wealth.

Accounts just filed for the firm, which he started in 2002, show that it paid out an interim dividend of £71.5million to shareholders, almost double the £39.3million paid out for the previous year, to October 31, 2017.

As both a director and shareholder, Brown received £43.2million – up from £24.5 million the previous year. Cedar Rock’s assets under management grew 10 per cent to $12.6 billion during the year, with group turnover increasing from £83.2million to £92.9 million and pretax profits rising to £88 million.

The firm, which says it invests only in ‘quoted companies that we believe capable of compounding in value indefinitely’, usually has a portfolio of around 20 companies, with strict criteria of ‘emphasising quality, value and managerial character’.

Brown, a former Morgan Stanley portfolio manager, recently sold an 11-year holding in Domino’s Pizza.

The controlling shareholder’s financial acumen has gained him a £620 million fortune, the latest Sunday Times Rich List states.