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Share Price:
1,667.00p
Change Today:
0.000p
Market Cap:
7,907m
Sector:
Financial Services

Hargreaves Lansdown ups dividend as younger investors join

By Sean Farrell

Date: Monday 01 Feb 2021

LONDON (ShareCast) - (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."

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HL. Market Data

Currency UK Pounds
Price 1,667.00p
Change Today 0.000p
52 Week High 1,865.00p
52 Week Low 1,348.50p
Volume 722,048
Shares Issued 474.32m
Market Cap 7,907m
Beta 0.01

Performance Indicators

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What The Brokers Say

Strong Buy 8
Buy 0
Neutral 4
Sell 1
Strong Sell 5
Total 18
neutral
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

HL. Dividends

  Latest Previous
  Interim Final
Ex-Div 11-Feb-21 24-Sep-20
Paid 08-Mar-21 16-Oct-20
Amount 11.90p 26.30p

Trades for 09-Apr-2021

Time Volume / Share Price
16:35 451,595 @ 1,667.00p
16:29 294 @ 1,670.50p
16:29 108 @ 1,669.50p
16:29 53 @ 1,670.00p
16:29 42 @ 1,670.00p

HL. Key Personnel

CEO Christopher Hill
CFO Philip Johnson
Chair Deanna Oppenheimer