The Netwealth Group Ltd (ASX: NWL) share price is up 8.7% to around $14.24 in Wednesday trading after the financial services company reported full-year total income up 20% to $173 million and net profits after tax (NPAT) up 3% to $56 million.
The company declared a fully franked final dividend of 10 cents per share, taking total FY22 dividends to 20 cents per share, an increase of 8% compared to FY21.
The Netwealth final dividend will be paid to eligible shareholders on 29 September 2022. Netwealth shares go ex-dividend on 30 August.
Based on a Netwealth share price of $14, the stock trades at 63 times earnings and on a fully franked dividend yield of 1.43%.
Looking ahead, Netwealth said it anticipates net inflows to be in the range of $11 billion to $13 billion in FY23 as it continues to focus on profitable growth.
Over the past 12 months, Netwealth shares have fallen 8%, compared to a fall of 6.6% in the S&P/ASX 200 Index (ASX: XJO). Fellow financial services stock HUB24 Ltd (ASX: HUB) shares have fallen around 7% in the last year.
