TP ICAP slashes FY'20 dividend

TP Icap PLC proposed a dividend for 2020 of 6 pence per share, down from 11.9 pence per share in 2019.

The company said the reduction is a one-off in order to help fund the acquisition of New York-based financial technology services provider Liquidnet Holdings Inc.

The total dividend amounts to £47 million and is payable May 18 to shareholders of record as of April 9.

The company's 2020 profit attributable to equity holders of the parent came in at £96 million versus £67 million the year prior. Full-year EPS rose to 17.0 pence from 11.9 pence.