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St James's Place cuts dividend as Q1 AUM falls

LONDON, April 30 (Reuters) - British asset manager St James's Place will cut around one third of its proposed final 2019 dividend as its first-quarter assets under management fell 2% to 101.7 billion pounds ($126.78 billion), it said on Thursday.

The fund manager said it will withhold 11.22 pence of its final 2019 dividend, but will pay 20 pence per share as a second 2019 interim dividend on May 27 2020 to shareholders on the register on May 11 2020.

($1 = 0.8022 pounds) (Reporting by Carolyn Cohn Editing by Maiya Keidan)