The shares of Man (LSE: EMG.L) slid 2 pence to 90 pence this morning after the hedge fund manager failed to mention its potential dividend within a third-quarter statement.

LONDON -- Back in July, the FTSE 250 member had said it expected the current-year payout to be $0.22 per share.

The possible income from Man's shares is thus 14%.

The company did say today, however, that its total funds had improved by $7.3 billion during July, August, and September to $60 billion.

The advance was comprised of $8.3 billion added following an acquisition, a further $1.2 billion produced by investment performance and foreign-exchange movements, less $2.2 billion of withdrawals from clients.

Man also confirmed this morning that its cost-saving programs remained on track. Within July's interim results, the company implied annual savings of up to $195 million could be found before the end of 2013.

Peter Clarke, Man's chief executive, said today:

The flow environment continues to be challenging and this was reflected in lower sales in the quarter. Redemptions were in line with the levels experienced in the second quarter which resulted in increased net outflows, albeit in lower margin product lines. Investor sentiment, and consequently the outlook for flows, continues to be subdued.

Against this backdrop, our focus remains on delivering performance for our investors and improving efficiency. We continue to attract high quality talent from the industry to bolster existing investment teams and to launch new product lines. We remain on track to deliver the cost savings announced in H1.

Although Man's yield looks very tempting, earnings at the half-year stage were only $0.048 per share, suggesting the promised $0.22 payout will be mostly uncovered by current-year profits.

Indeed, brokers currently reckon the 2013 payout will be chopped to around 6 pence per share and could be paid from earnings of about 6.5 pence per share. A more realistic yield from Man's 90 pence shares could therefore be about 6.5%.

Right now, Man is just one of a number of FTSE names that offers a dividend income well ahead of what you can expect to receive from a standard savings account.

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Maynard does not own any share mentioned in this article.

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