U.K.-based 3i Group Plc's board recommended a dividend of 30 pence per share for the full year to March 31, up from a dividend of 26.5 pence per share for the 2016-17 year.

The dividend comprises a base dividend of 16 pence per share, half of which was paid in January, and an additional dividend of 14 pence per share. The balance of 22 pence per share will be paid in July, subject to shareholder approval.

The private equity firm reported a consolidated net profit of £1.43 billion for the year ended March 31, down year over year from £1.59 billion.