A rising share price usually means a falling dividend yield with no dividend growth. FTSE250 participation Aberdeen Group (LSE: ABDN) has not increased its dividend for many years. However, despite the share price increasing by 41% in just 12 months, it still gives a return of 7.5%.

Could it be time for investors to consider this high-yielding stock?

Great potential, but uneven performance

I should mention that I have owned FTSE 250 shares before.

Even then, I believed that the company had strengths such as a vast customer base and a clear value proposition. Its business model proved it could do well, even if it didn’t always deliver consistent results.

This inconsistency was part of the problem, however. While it seemed to have the makings of a sturdy business, it didn’t always seem to apply them effectively.

Has anything changed?

The dividend looks attractive

There are mixed signals on whether business is more stable than before. Overall, I think things are looking pretty good.

In the first half of this year The company’s diluted earnings per share increased by as much as 48% year-on-year.

However, adjusted net operating income fell 6% and net cash flow was negative, meaning more money left the company’s funds than was put into them.

On a positive note, this may mean that the asset manager is taking a more strategic approach, focusing on profitable businesses. It is expected to grow over time.

The company said it was committed to supporting the dividend. Whether this happens will depend on financial results.

However, I consider management’s commitment to be a positive sign that it is focused on maintaining shareholder payouts.

Paying out ordinary dividends cost Aberdeen £130m in the first half. This was largely covered by net operating cash flow of £241 million.

One to consider

I believe there is still a lot of work to be done to unlock the full potential of FSTE 250.

However, the company has been gathering strength over the last few years and I think this is apparent in its profitability in the first half of the year.

I think this is also reflected in the sturdy share price performance over the last 12 months.

It is still about two-thirds lower than in 2015. This shows how much the company has lost to some investors.

But it has well-known brands, including not only Aberdeen itself, but also an interactive investor investment platform. The company has a sizeable customer base and has proven it can generate significant amounts of excess cash over time.

Combined with the focus on maintaining the dividend at current levels, I see this as an earnings share that investors should consider.