Quilter aims to double profits by 2025; To return £350m to shareholders

Wealth fund manager Quilter on Wednesday said it aimed to more than double operating profit by 2025 and would return £350m from the sale of its international unit to shareholders.

The company also revised its dividend policy with a new target pay-out range of 50% -70% of post-tax, post-interest adjusted profits, up from 40% - 60% of post-tax adjusted profits.

Quilter also said assets under management and administration rose to £108.5bn in the three months to September 30 from £91.7bn a year ago.