Intu dividend yields £16m for Whittaker

The shopping centre business has announced that a 4.6p interim dividend will be paid to its shareholders in cash, which will result in a £16m pay out to largest single shareholder John Whittaker.

Whittaker is non-executive deputy chairman of Intu, owner of the Trafford Centre, and chairman of Peel, which developed the centre in the 1990s.

He has 368 million shares in Intu, giving him the largest individual shareholding at 27%.

Other major Intu shareholders include Cape Town-based Coronation Asset Management, which owns 16% of the company and will be getting a £9m dividend pay-out, and the Sir Donald Gordon family, who will be receiving £5m.

Over the course of the year Intu’s share price has been gradually dropping. In February the share price was at its highest point of 2017 at 293.7p, but lowered after Intu’s financial results revealed a £346m dip in profits. The price has risen slightly and is currently 228.2p a share.

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