abrdn plans £500m payout to shareholders to ease investor tensions – reports

According to FTthe board is discussing the best yield mechanism, including a special dividend, although all plans are subject to regulatory approval.

Shareholders are expected to receive a further £400-500m before the end of 2022, with the asset manager likely to raise funds by selling stakes in other companies.

abrdn exits FTSE 100 as F&C gains promotion

The plans arose following abrn’s downgrade of Britain’s FTSE 100 index, which saw the company enter the FTSE 250 for the first time since the 2017 merger of Aberdeen Asset Management and Standard Life Investments propelled the company into the best benchmark.

Almost 18 months after its name change, the company’s half-year report showed profits were down 18% from the same period last year and IFRS tax losses of £320m.

In the same report, it lowered its outlook and announced plans to close or merge 100 funds shortly thereafter. This was after 12 members of its multi-asset team voluntarily left and five more left after the UK and European equities teams merged; a persistent release theme around the business.

abrdn declined to comment on the payment proposals.