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IFG Group's board proposes to not pay dividend for FY'17

IFG Group Plc said its board has decided not to pay a final dividend for full year 2017, but remains committed to a progressive dividend policy once the Ireland-based, London-listed financial services company resolves its legacy issues.

The group said the focus on resolving legacy matters had led to exceptional costs of £8.8 million for the company in 2017, up from £1.7 million in 2016. The costs have offset the underlying performance of the business in 2017, the firm noted.

IFG Group reported a consolidated net loss attributable to owners of the parent company of £338,000 for full year 2017, compared to a profit of £5.3 million a year ago.