Share Prices & Company Research

Market News

01 Feb 2021 | 07:37

Hargreaves Lansdown ups dividend as younger investors join

(Sharecast News) - Hargreaves Lansdown increased its interim dividend as the company reported a 10% rise in first-half profit and attracted younger investors. The FTSE 100 investment platform's pretax profit rose to £188.4m from £171.1m in the six months to the end of December as revenue increased 16% to 299.5m.

Hargreaves Lansdown attracted £3.2bn of net new business compared with £2.3bn a year earlier and £7.7bn in all of the previous financial year. Assets under administration rose 16% from the end of the previous financial year to 120.6bn.

The company raised its interim dividend 6% to 11.9p a share and said it would pay special dividends when it had spare cash.

First-half profit was driven by a 123% increase in equity trading as investors responded to news about Covid-19 and the UK's Brexit trade deal. The company also said younger customers were supporting growth with 47% of new clients aged between 30 and 54.

Hargreaves Lansdown said trading in January was similar to other lockdown periods with strong dealing volumes, "robust" net new business and new client numbers.

Chris Hill, Hargreaves Lansdown's chief executive, said: As our client numbers continue to grow, we are finding that younger people are taking a greater interest in investing for the future, with the average age of our clients continuing to fall. Covid-19 has underpinned the importance of financial resilience."
Get in touch today
Join Redmayne Bentley
Talk to us now about opening a new account or transferring your account from another provider
0113 243 6941
Get in touch today
Contact your local office
Contact your local office to find out more
The value of your investments and the income from them may go down as well as up, and you could get back less than you invested.
Continuing our Personal Service: View our Latest COVID-19 Update: 30th April 2021
We use cookies on this site to improve your experience and help us provide you with a better website. An explanation of the cookies we use and their purpose can be found within our Cookie Policy. Your continued use of this site means you consent to the use of cookies.