Azimut FY net profit up 3pc, proposes dividend of 1 euro/share

Azimut Holding will pay out an all-cash dividend of 1 euro per share, the Italian asset manager said on Thursday, after posting a 3.2% rise in its full-year net profit.

Milan-based Azimut, which offers its financial and insurance products in Italy and abroad, reported a net profit of 381.7 million euro ($456.44 million) last year, in line with the company's guidance of between 375-415 million euros.

Azimut said its international business now makes up 34% of its total assets, thanks to the completion of the acquisition of US Sanctuary Wealth Group. Recent acquisitions increased the group's total assets to a record level of 69.94 billion euros by the end of February, it added.