The Mortgage Advice Bureau Holdings Board is to confirm an interim dividend for the year ending 31 December 2021 of 13.4 pence per share (H1 2020: nil pence per share), amounting to a cash outlay of £7.1m. Due to the uncertainty arising from the pandemic, the Board did not pay an interim dividend relating to H1 2020 in the year ending 31 December 2020. Following payment of the dividend, the Group will continue to maintain significant surplus regulatory reserves. This interim dividend represents circa 75% of the Group's post-tax adjusted profits for H1 2021. MAB requires circa 10% of its profit after tax to fund increased regulatory capital and other regular capital expenditure.
The record date for the interim dividend is 1 October 2021 and the payment date is 29 October 2021. The ex-dividend date will be 30 September 2021.