Woodford and Newman paid £20m in dividends last year - reports

The FT calculated the figure by assuming an average fee of 0.5% on the £12bn Woodford Investment Management (WIM), the fund business set up by the former Invesco Perpetual pair, had under management in the year to March 2019. The analysis assumed expenses and the effective tax rate for WIM were in line with its previous financial year and that the company had no additional large one-off items during the 2018-19 financial year. People familiar with the company's accounts confirmed the calculation and told the FT Woodford and Newman had already paid their tax for the most recent f...