Panmure Gordon& Co. Plc said March 31 that its board is not recommending thepayment of a dividend for 2015, as the bank reported a attributable to the owners of the companyof £16.7 million for the year ended Dec. 31, 2015.

The bank paid a dividend of 2.5 pence per ordinary share for 2014after a seven-year hiatus.

CEO Patric Johnson noted that 2016 has started positively. Hesaid: "In the first three months of the year we have made operationalefficiencies and executed 14 deals, and will record a profit."