In a statement, the
However, first-half pretax profit decreased to
Also eating into pretax profit was a
"We believe our chosen savings markets offer the prospect of significant long-term growth. As we extend our relationships with key distributors on a global basis, we are confident we can continue to deliver profitable growth at attractive margins and, within our sustainable balance sheet structure, share the rewards of this growth with our investors," Chief Executive
Jupiter increased its interim dividend to
Slendebroek said that the completion of Jupiter's deleveraging process in early 2014 means Jupiter has a sustainable balance sheet from both a cash and capital perspective, creating the potential for increased returns to shareholders.
"While no final decision has been taken, it is the board's current intention to deliver these returns through progressive ordinary dividends, targeting a 50% payout ratio across the cycle, topped up by special dividends dependent on the size of residual earnings," Slendebroek said.
"In 2014, such returns will be considered after funding the remaining debt pay down earlier this year, retaining sufficient capital to invest for future growth and will include any one-off income, such as net proceeds from the private client transaction. The increase in our interim dividend to 3.7p has been taken in line with this policy," the CEO added.
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