FTSE 250 asset manager abrdn is drawing up plans to return up to £500m to shareholders as the Edinburgh-based house attempts to front run investor fury.
According to the FT, the board is discussing what the best mechanism for the return could be, including a special dividend, although all plans will be subject to regulatory approval. Shareholders are set to receive an additional £400-500m before the end of 2022, with the asset manager likely to raise the cash by selling down stakes in other companies. abrdn exits FTSE 100 as F&C gains promotion The plans have arisen following the demotion of abrdn from the UK's blue chip FTSE 100 index, which saw the firm enter the FTSE 250 for the first time since the 2017 merger of Aberdeen Asse...
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