LONDON (Alliance News) - BP Marsh & Partners PLC on Tuesday said it plans to increase its proposed dividend to 3.42 pence for the financial year to the end of January 2016.
BP Marsh, which provides venture capital to early stage financial services businesses, said it intends to maintain at least that level of dividend for the following financial year. The company, which pays dividends after the end of each financial year, had previously planned to pay a minimum of 2.75 pence per share in the coming two years.
"The increase in the proposed dividend is in recognition of the steady growth of the group's investment portfolio, whilst also demonstrating that the group is an attractive capital and income investment to its diverse shareholder base," the company said.
"The management team remains positive about the group's ability to generate long term returns from the existing investment portfolio, alongside an interesting pipeline of new investment opportunities," the company added.
The group expects to report its interim results for the period to July 31 on October 20.
Shares in the company were down 0.2% at 136.20 pence on Tuesday morning.
By Samuel Agini; samagini@alliancenews.com; @samuelagini
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B.p Marsh (BPM)