Mortgage Advice Bureau (Holdings) plc has completed the sale of its stake in Capital Private Finance Limited for £2.7 million.
CPF will shortly cease to be an Appointed Representative (AR) of MAB, reducing the number of MAB advisers by 14. MAB’s exposure to the London market will reduce to around 6% in terms of revenue as a result.
The post-tax profit on disposal will be distributed by way of a special dividend to shareholders of 4.25 pence per ordinary share.
This dividend will be paid on 26 August 2016 to ordinary shareholders on the register on 12 August 2016. The ex-dividend date is 11 August 2016.