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Arbuthnot slashes payout as income plunges
Business Financial Newswire
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Arbuthnot Banking Group slashed its full year dividend as operating income plunged in 2008.
The 21p dividend is down from 33p in 2007 but the group says a positive return to shareholders is a creditable performance given the turmoil in the financial services industry.
Operating income fell to £41.9m from £68.8m and the group posts a losss for the year to the end of December of £2.2m against a profit of £8.6m in 2007.
It has total assets of £359.8m - down from £414m.
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