TechFinancials to receive $1.53m dividend from DragonFinancials

Shares in TechFinancials are up a third on confirming it expects to receive a dividend payout of $1.53m from subsidiary DragonFinancials, following on from an earlier payment by that company.

DragonFinancials has declared a final dividend pay-out of $3m, payable by 15 March, for 2016, of which TechFinancial's portion was $1.53m, in line with its 51% stake in that company.

In November, DragonFinancials declared an interim dividend pay-out of $2m, of which TechFinancials received $1.02m.

DragonFinancials is a B2C trading platform focused on the Asia Pacific region.

At 13:36 GMT, shares in AIM-quoted TechFinancials were up 33.33% to 10p each.