April 25, 2024

Close Brothers (CBG) Cancels Dividend Amid FCA Review of Car Finance

Close Brothers Group Plc said it won’t pay any dividends for the 2024 financial year as it looks to strengthen its balance sheet amid a regulatory review of historic car finance loan arrangements.

“The group will not pay any dividends on its ordinary shares for the current financial year,” the lender said in a trading update ThursdayBloomberg Terminal. “The reinstatement of dividends in the 2025 financial year and beyond will be reviewed once the FCA has concluded its process and any financial consequences for the group have been assessed.”

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