OUTSPOKEN City magnate Peter Hargreaves has received a £61m windfall from the financial services firm he co-founded after it announced a special dividend last week.
Hargreaves Lansdown said it would pay the special dividend after pre-tax profits rose 10 per cent to £292.4m.
The move boosted its dividend for the year by 38 per cent to 40p a share - leading to a windfall for Hargreaves who holds 152m shares in the company. Hargreaves retains almost one-third of the shares in the company he co-founded with Stephen Lansdown.
A prominent Leave campaign supporter, Hargreaves said last week that he would bet his entire £3.5bn fortune that the UK would get a free trade deal with the EU in the event of a no-deal Brexit.
He also blasted the government for its handling of Brexit negotiations.
"There isn't one person on our Brexit team that has a clue. None of them are brave. None of them have done a deal. None of them know the art of the deal," he told Bloomberg.
He also said a government led by Labour leader Jeremy Corbyn would be a "great tonic to this country", saying a "dose of Corbyn would tell everybody that socialism's bad".
(c) 2018 City A.M., source Newspaper