Magellan duo rolling in dividend payouts after huge jump in profit

They're in the money ... Chris Mackay (left) and Hamish Douglass. Pictures: File

They’re dividend payouts that would almost make Crown’s billionaire shareholder James Packer blush.

Uber fund manager Magellan Financial Group — more than 8 per cent of which Packer owned before, regretfully, selling out in 2013 — today unveiled a huge jump in profit and dividends.

Magellan duo Hamish Douglass and Chris Mackay in happier days.

No sign of Hayne pain at this financial shop.

The result means its co-founders Hamish Douglass and Chris Mackay — whose financial success has come at the cost of their personal relationship — are sloshing about in more cash than almost anyone in listed Australia.

That’s in part thanks to a profitable adjustment to Magellan’s dividend policy that has boosted monies paid to investors.

In the past two halves Magellan chair Douglass — who has almost 22 million Magellan shares, currently worth more than $700 million — has collected almost $36m in dividends.

Relative to Douglass’ recent income, the three-day knees-up he threw for himself and his wife

Inside the marquee at Hamish Douglass's 50th birthday extravaganza

Alexandra last December at Wolgan Valley’s luxe resort was almost modest.

The dividend cheque was almost as fat for Mackay, the owner of almost 19 million Magellan shares. That parcel, worth more than $600m, has yielded $30.5m of dividends in the past two halves.

Magellan boss Brett Cairns — who unlike Mackay was along at the Wolgan extravaganza — hasn’t missed out either. The Magellan CEO has picked up almost $2m in dividends in the two halves. Too soon for another party?

Read the full Margin Call column tomorrow in print and online