- Large weighting towards not particularly profitable activities
- Payout ratio depends on how quickly cost-to-net-income ratio falls
Managing the turnaround of a super tanker-sized asset manager was never going to be easy and the newly branded Abrdn (ABDN) (formerly Standard Life Aberdeen, and now probable winner of a Consignia corporate branding award) made it clear in its half-year results that investors who expected a higher dividend will either have to wait, or by implication, go somewhere else to find one.