Peters Hargreaves scores £61m share windfall

Outspoken City magnate Peter Hargreaves has received a £61m windfall from the financial services firm he co-founded after it announced a special dividend last week.

Hargreaves Lansdown announced a special divided last week after pre-tax profits shot up 10 per cent to £292.4m.

Read more: Hargreaves Lansdown tops up dividend as profits rise

The move boosted its dividend for the year by 38 per cent to 40p a share, leading to a windfall for Hargreaves who holds 152m shares in the company.

Hargreaves retains almost one-third of the shares in the company he co-founded with Stephen Lansdown.

Prominent leave campaign supporter Hargreaves said last week that he would bet his entire £3.5bn fortune that the UK would get a free trade deal with the EU in the event of a no-deal Brexit.

He also blasted the government for its handling of Brexit negotiations.

Read more: Peter Hargreaves: Government hasn't got 'a clue' on Brexit

“There isnt one person on our Brexit team that has a clue. None of them are brave. None of them have done a deal. None of them know the art of the deal,” he told Bloomberg.

He also said a government led by Labour leader Jeremy Corbyn would be a “great tonic to this country”, as a “dose of Corbyn would tell everybody that socialisms bad,” he said

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