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Hargreaves Lansdown stuck with its dividend plans even as the wealth manager reported a decline in assets as falling stock markets offset a rise in new business wins, denting growth.
'The board's current intention remains to operate its stated dividend policy for the 2020 financial year,' the company said.
For the four month period to 30 April 2020, assets under administration fell to £96.7bn from £97.8bn on-year and revenue slipped to £190.2m from £159.5m.
Net new business rose to 4.0 billion during the period from £2.9bn on-year, taking year-to-date net inflows to £6.3bn, up from £5.4bn last year.
At the start of March, the 'significant market falls caused by Covid-19 and the subsequent emergency cuts to the UK base rate of interest negatively impacted asset-related revenue streams,' the company said.
These impacts, however, were more than offset by 'significantly' higher stock broking revenues driven by record dealing activity, it added.
'There remains much uncertainty in the coming months and hence, like many businesses, we cannot predict levels of new business or client activity,' Hargreaves Lansdown said.