Janus Henderson Group has reported revenue of US$620 million for the first three months of 2022, down from US$697.2 million in the previous quarter and US$644 million a year earlier.
In an announcement on Wednesday, the global active asset manager said that operating income during the period was US$124.6 million versus US$157.6 million in Q4 2021 and US$201.5 million in Q1 2021.
Additionally, Janus Henderson’s assets under management (AUM) dropped to US$361.0 million from US$432.3 in the prior quarter and US$405.1 million in the corresponding period a year ago.
“In an ongoing challenging market environment which is impacting our outlook and flows, our first quarter results reflect solid long-term investment performance, robust financials, although down on the prior quarter, and continued capital return to shareholders,” commented Janus Henderson Group interim CEO and CFO Roger Thompson.
“We returned US$107 million through dividends and share buybacks in the first quarter, and we are pleased to announce a 3 per cent dividend increase and a new US$200 million share buyback authorisation to be completed prior to next year’s annual shareholder meeting.”
Janus Henderson declared a first quarter dividend of US$0.39 per share and confirmed that more details about its proposed on-market buyback programme, which will include the purchase of ordinary shares on the NYSE and its CDIs on the ASX, will be announced at a later date.
About US$43.3 million of share buybacks were completed during the first quarter as part of a previous programme announced in July last year.
The firm also reported diluted earnings per share of US$0.47 compared to US$0.78 in the fourth quarter of 2021 and US$0.88 in the first quarter.
“We are excited to have Ali Dibadj begin as CEO next month, and while we transition to a new CEO, we continue to make progress on delivering our strategic initiatives, including closing the sale of Intech,” said Mr Thompson.
Jon Bragg
Jon Bragg is a journalist for Momentum Media's Investor Daily, nestegg and ifa. He enjoys writing about a wide variety of financial topics and issues and exploring the many implications they have on all aspects of life.
