HUB24 announces $50m buy-back
After posting a 64% increase in full-year net profit after tax to $58.8 million, HUB24 has embarked on a $50 million on-market share buy-back.
It said the buy-back would be funded from existing cash reserves claiming that it would deliver “shareholder returns whilst retaining flexibility to take advantage of strategic growth opportunities.
At the same time, the company upgraded its forecast for platform funds under administration (FUA) to a range of $92 billion to $100 billion.
The directors declared a final dividend of 32.5 cents per share fully ranked.
While the company told the ASX that platform net inflows were down 17% to $9.7 billion it said that this was an industry leading position in the context of ongoing market volatility and uncertainty in the macroeconomic environment.
It said there had been a strong start to current financial year inflows which were ahead of the final quarter run-rate for 2023.
If CSLR is the ‘last resort’ please tell us ASIC what measures have been taken before you hit innocent advisers…
ASIC, So who do you think are going to pay your $200m in fines when this lot can’t even pay…
When, oh when, are you going to do an analysis of "wholesale only" advisers who are NOT on the FAR…
I’ve just paid the $1,295 CSLR levy, and honestly, I’m frustrated that my hard-earned money is being used to cover…
Just remind us again how much money a super trustee spent on their 40th birthday party using member funds? What…