Quilter shares up 15% amid NatWest bid speculation

Shares of wealth manager Quilter rose 15% on Monday after weekend reports in London newspapers that NatWest-RBS is considering making a bid to buy the listed firm.

Quilter has about £110 billon in assets under management and a current stock market value of around £1.7 billion.

Quilter’s shares remain down about 37% for the past 12 months.

NatWest last Friday its operating profit before tax rose 13% to £2.6 billion for the six months to June 30, 2022, ahead of analyst forecasts.

NatWest said it would pay an interim dividend of 3.5p per share and a special dividend “with share consolidation” of £1.75 billion, equivalent to 16.8p per share.

The bank said customer deposits increased £14.8 billion in the first half to £476.2 billon.

About the Author

Mark McSherry
Dalriada Media LLC sites are edited by veteran news journalist Mark McSherry, a former staff editor and reporter with Reuters, Bloomberg and major newspapers including the South China Morning Post, London's Sunday Times and The Scotsman. McSherry's journalism has also appeared in The Washington Post, The Guardian, The Independent, The New York Times, London's Evening Standard and Forbes. McSherry is also a professor of journalism and communication arts in universities and colleges in New York City. Scottish-born McSherry has an MBA from the University of Edinburgh and a Certificate in Global Affairs from New York University.