Brooks Macdonald Group
Website:
Brooks Macdonald Group
Index:
AIM
EPIC: BRK
Supersector:
Financial Services
Sector:
Financial Services
Subsector:
Asset Managers
Market Cap:
£230.22M
Payout Frequency: Semi-Annual
Brooks Macdonald Group Dividend Analysis and Summary
Declared dividend details
- Interim dividend: 31.0p per share (up 3% year-on-year).
- Ex-dividend date: 12/03/2026 (derived from record date).
- Record date: 13/03/2026.
- Payment date: 10/04/2026.
- Estimated cash outlay: ~£4.9m (c.15.88m shares in issue).
- Policy: Board reiterates a progressive dividend policy.
Sustainability and coverage
- Underlying diluted EPS (H1): 64.2p; interim DPS 31.0p implies underlying cover of ~2.1x.
- Statutory diluted EPS (H1): 29.4p (below DPS, reflecting one-offs: M&A, integration and restructuring).
- Regulatory capital resources: £39.6m (excl. interim dividend); excess capital above internal buffer: £12.0m pre-interim payout.
- Cash and liquid assets: £27.0m (down from £53.8m due to final FY25 dividend, buyback, capex, and integration/earn-out payments).
Growth trajectory and policy
- DPS growth: Interim up 3%; prior year final was 51.0p (FY25 total 81.0p). Progressive stance maintained.
- Operational momentum: return to positive net flows (+£2m) and FUM up 7.8% to £17.8bn, though fee yield fell as mix shifts to lower-yield Platform MPS.
- Medium-term targets reaffirmed: annualised net flows +5%, BAU cost growth <5%.
Financial support and capital allocation
- H1 revenue up 12% to £58.2m; underlying PBT £13.6m (margin 23.4%). Statutory PBT £6.2m due to investment and one-offs.
- Cost discipline: annualised restructuring savings of ~£3m targeted; integration synergies >£1m.
- Capital returns: £10m share buyback completed in Oct-2025 (reduces share count and supports per-share dividend metrics).
- Investment needs: meaningful H1 cash outflows for head office move/capex and transformation; H2 investment expected lower than H1.
Structural/one-off items relevant to dividends
- M&A/integration: establishment and integration of Brooks Financial (financial planning); outstanding deferred consideration payable £11.3m (current) may absorb cash.
- Share count reduced to ~15.88m after buyback, lowering future dividend cash cost.
- Accounting/treasury change: gilts to be reclassified to FVOCI from 1 Jan 2026 (liquidity management refinement; not a direct dividend policy change).
- Prior disposals (BMI and Defensive Capital Fund) already completed in FY24–FY25; no new demergers/consolidations disclosed.
Risks/flags to dividend stability
- Cash and liquidity tighter vs June (cash/liquids £27m) amid capex, restructuring and earn-outs; interim dividend still manageable but reduces headroom.
- Margin pressure: FUM-related yield down 8.6 bps (mix shift to lower-yield Platform MPS; lower interest and transactional income).
- One-off costs (restructuring, integration) and potential FSCS levy in H2 could weigh on statutory earnings and cash.
- Deferred consideration outflows (£11.3m current) and continued M&A appetite may compete with cash available for dividends.
- Net flows only marginally positive overall; BPS still experiencing outflows, partially offset by strong Platform MPS inflows.
Read more
Brooks Macdonald Group Annual Dividend Yield - 5.55%
Dividends Used in Calculation:
| Ex-Dividend Date |
Payment Date |
Type |
Amount |
Currency |
| 13/03/2025 |
11/04/2025 |
Interim |
30.00p |
GBX |
| 18/09/2025 |
04/11/2025 |
Final |
51.00p |
GBX |
Total (Annual Dividends Per Share):
81.00p
Dividend Yield =
Annual Dividends Per Share (81.00p)
÷ Share Price (1460p)
= 5.55%
Brooks Macdonald Group Dividend History
| Ex Dividend Date |
Payment Date |
Type |
Amount |
Currency |
| 12/03/2026 |
10/04/2026 |
Interim |
31.0000p |
GBX |
| 18/09/2025 |
04/11/2025 |
Final |
51.00p |
GBX |
| 13/03/2025 |
11/04/2025 |
Interim |
30.00p |
GBX |
| 19/09/2024 |
01/11/2024 |
Final |
49.00p |
GBX |
| 14/03/2024 |
16/04/2024 |
Interim |
29.00p |
GBX |
| 21/09/2023 |
03/11/2023 |
Final |
47.00p |
GBX |
| 09/03/2023 |
06/04/2023 |
Interim |
28.00p |
GBX |
| 22/09/2022 |
04/11/2022 |
Final |
45.00p |
GBX |
| 17/03/2022 |
14/04/2022 |
Interim |
26.00p |
GBX |
| 23/09/2021 |
05/11/2021 |
Final |
40.00p |
GBX |
| 18/03/2021 |
16/04/2021 |
Interim |
23.00p |
GBX |
| 24/09/2020 |
06/11/2020 |
Final |
32.00p |
GBX |
| 26/03/2020 |
24/04/2020 |
Interim |
21.00p |
GBX |
| 26/09/2019 |
08/11/2019 |
Final |
32.00p |
GBX |
| 21/03/2019 |
23/04/2019 |
Interim |
19.00p |
GBX |
| 27/09/2018 |
02/11/2018 |
Final |
30.0p |
GBX |
| 22/03/2018 |
24/04/2018 |
Interim |
17.00p |
GBX |
| 28/09/2017 |
27/10/2017 |
Final |
26.00p |
GBX |
| 23/03/2017 |
21/04/2017 |
Interim |
15.00p |
GBX |
| 29/09/2016 |
28/10/2016 |
Final |
23.00p |
GBX |
| 24/03/2016 |
26/04/2016 |
Interim |
12.00p |
GBX |
| 24/09/2015 |
28/10/2015 |
Final |
20.50p |
GBX |
| 19/03/2015 |
21/04/2015 |
Interim |
10.00p |
GBX |
| Year |
Interim |
Final |
Currency |
Total |
Change |
| 2024 |
29.000 |
49.000 |
GBX |
78.000 |
4.000 |
| 2023 |
28.000 |
47.000 |
GBX |
75.000 |
5.630 |
| 2022 |
26.000 |
45.000 |
GBX |
71.000 |
12.690 |
| 2021 |
23.000 |
40.000 |
GBX |
63.000 |
18.860 |
| 2020 |
21.000 |
32.000 |
GBX |
53.000 |
3.920 |
| 2019 |
19.000 |
32.000 |
GBX |
51.000 |
8.510 |
| 2018 |
17.000 |
30.000 |
GBX |
47.000 |
14.630 |
| 2017 |
15.000 |
26.000 |
GBX |
41.000 |
17.140 |
| 2016 |
12.000 |
23.000 |
GBX |
35.000 |
14.750 |
| 2015 |
10.000 |
20.500 |
GBX |
30.500 |
|
Brooks Macdonald Group Dividend Calculator
Brooks Macdonald Group Dividend Growth
| Dividend Growth (1Y) |
3.8%
|
| Dividend CAGR (5Y) |
8.32%
|
| Years of Growth |
21
|
| Payout Ratio |
188.07%
|
| Buyback Yield |
1.59%
|
| Shareholder Yield |
7.18%
|
| P/E Ratio (TTM) | 32.72 |
|---|
| Forward P/E | 10.62 |
|---|
| P/FCF | – |
|---|
| Earnings Yield | 3.02% |
|---|
| FCF Yield | -1.2% |
|---|
| ROE | 4.67% |
|---|
| ROCE | 3.99% |
|---|
| Profit Margin | 5.74% |
|---|
| Operating Margin | 5.84% |
|---|
| Gross Margin | 100% |
|---|