January 15, 2018 / 10:09 AM / 2 years ago

Italy's Azimut proposes to double dividend after record net inflows

Jan 15 (Reuters) - Italian asset manager Azimut Holding said it would double its annual dividend after reporting record net inflows for 2017, sending its shares 7 percent higher.

The company said it also reached a long-term total assets target two years ahead of schedule. It reported total assets of 50 billion euros ($61.2 billion) as of the end of December.

Azimut reported net inflows of 6.8 billion euros and proposed a dividend of 2.0 euros per share.

The asset manager added it expects a full-year net profit between 215 and 225 million euros, a 27 percent increase year on year based on the midpoint of the range. ($1 = 0.8167 euros) (Reporting by Silvia Recchimuzzi in Gdynia; Editing by Keith Weir)

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