South African owners of Compare the Market pocket £138m dividend

Compare the Market's parent company paid a large dividend to its owners (Source: BGL Group)

The shareholders of price comparison website Compare the Market’s parent company BGL Group have received a bumper dividend payout of £138m.

South African businessman Douw Steyn, founder of BGL Group, and his family will share the payout with the Enthoven family, which owns the Nando’s restaurant chain, according to the Sunday Times.

The Steyn and Enthoven families own 92 per cent of BGL, the UK-based insurance and financial services company.

This news comes a few weeks after BGL reported revenue for the year ending 30 June 2017 grew 14 per cent to £585m, while annual profits grew by a fifth and total customer numbers increased to more than 8.5m.

BGL submitted its accounts to Companies House last week. The report revealed it had spend £4.4m last year on costs relating to a potential IPO.

Read more: Comparethemarket kicks float into next year

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