Perpetual Limited
(ASX:PPT) has posted a net profit for the year to June 30 of $62 million. That’s a 31 per cent fall from the year before of $90.5 million.
Subdued equity markets and cost and efficiency initiatives have been blamed for the drop in profit.
Perpetual intends to return up to $70 million of surplus capital to shareholders through an off-market buy-back tender process.
The fund manager will pay a final dividend of 90 cents a share, fully franked, taking the full year dividend to $1.85.
