Nice One25 Nov 2014 07:16
Final results. Commenting on the results, Nigel Terrington, Chief Executive of Paragon, said:
"The past year has seen considerable progress in the Group's strategic plans and in the performance of its businesses. Paragon Mortgages and Idem Capital have witnessed significantly increased new business and are well positioned for further growth. Significant progress has also been achieved in diversifying further the Group's funding sources. In particular, the formation of Paragon Bank has provided us with the opportunity to diversify further both income streams and funding and we expect it to play an important role in the Group's future plans.
The Group benefits from a strong capital position and I am pleased to announce a 25% increase in the dividend, as well as an initial £50 million share buy-back programme, as we seek to complement strong and sustainable growth with improving shareholder returns."