Published on 5th March 2014
Despite cutting costs, margins at inter-dealer broker (IDB) Tullett Prebon fell last year. That came as revenues dropped by six per cent which together with the above pressured operating profits eight per cent lower. The main drivers of those trends were the increased focus by some banks on cutting their exposure to derivatives and brokersīneed to cope with increased regulation. Yet the firm was able to maintain its dividend pay-out at a total of 16.85p. That amounts to a dividend yield of approximately five per cent.