December 7, 2017 / 7:50 AM / 2 years ago

Electra Private Equity makes shareholder return of 21 percent

(Reuters) - Electra Private Equity (ELTA.L) said on Thursday that it made a total shareholder return of 21 percent in the year ended September and cut annual management expenses by over 80 percent.

Electra earlier this year split from its investment manager Electra Partners, now renamed Epiris, and is reorganising its structure.

One of Britain’s oldest private equity firms, Electra, under pressure to improve shareholder returns from activist investor Edward Bramson, said in October that it will pay a 350 million pound special dividend and suspended new investments after a strategic review.

Electra said on Thursday that it would not pay an ordinary dividend for the year, because of the “exceptional level of special dividends” already paid.

The company’s investments include restaurant chain TGI Fridays and online photo printing company Photobox.

Reporting by Noor Zainab Hussain in Bengaluru; Editing by Sunil Nair

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