MAM Funds to pay dividend for first time in four years

MAM Funds has announced it is to pay out a dividend for the first time in four years, after reporting its results for the year to December 31 2011.

The boutique manager will pay out 0.4p per share as it reported cash generation of more than £3m per year.

The company saw earnings before interest, tax, amortisation, share-based payments and exceptional items rise by £0.1m to £4.5m, with profits up £3.6m.

Ian Dighé, executive chairman at MAM Funds, says: “Over the last 12 months, the trajectory of the group has radically changed.

“Previously debt had constrained meaningful investment in the business. This year has been marked by a more active and healthy approach to developing our business, following the repayment of our debt in February 2011.”

He adds: “Many of our competitors have seen net fund outflows during 2011, so I am pleased to report that overall the group has increased our average funds under management from £1.6 billion to £1.7 billion.”