UK building society Britannia offers dividend cheer
16/02/2006 - 12:01:39The UK’s second biggest building society highlighted a year of “great progress” by lifting its member dividend for the first time in 10 years today.
Britannia said the 4.5% improvement meant around 900,000 members would share a £48m (€70.2m) payout.
The mutual said it was able to lift the dividend as a result of record levels of mortgage lending and increased sales across most product lines in 2005.
Staffordshire-based Britannia saw total mortgage lending for the year to December 31 reach £6.9bn (€10bn), up from £6.3bn (€9.2bn) in 2004 while like-for-like profits rose 9% to £151.2m (€221m).
The Britannia Membership Reward’s total payout since it was introduced now stands at £422m (€616.8m).
