Hargreaves Lansdown founder Stephen Lansdown has sold nearly 3% of the company.
Lansdown sold 13.56m shares at 429p each, which raised £58.18m. That leaves Lansdown with 20.1% of the financial adviser.
Wealth management firm Hargreaves Lansdown reported a record year to June 2010 despite tough market conditions. Profit before tax jumped to £86.3m, up from £73.1m 12 months ago, on revenue 20% higher at £159m. Total assets under administration rose 47% to £17.5bn.
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The final dividend of 0.58p a share took the total payout for the year to 8.58p a share, but a special dividend of 1.7p a share lifted the overall dividend for the period by 18% to 11.88p a share.
The dividend was paid on 29 September so Lansdown banked this income before selling the shares.
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Hargreaves Lansdown (HL.) Director name: Mr Stephen P LansdownAmount sold: 13,560,843 @ 429.00p Value: £58,176,016
IdaTech (IDA) Director name: Mr James CookeAmount sold: 42,997 @ 60.00p Value: £25,798
Nordic Land (NLD) Director name: Mr Ray HorneyAmount sold: 120,000 @ 20.75p Value: £24,900
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