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Techfinancials to pick up US$1mln dividend from Asia subsidiary

The trading-software developer owns 51% of Asia Pacific-based DragonFinancials

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Techfinancials had US$5.8mln in cash at end June

TechFinancials Inc (LON:TECH) is to receive a dividend of US$1.02mln from its subsidiary DragonFinancials.

The trading software developer owns 51% of the Asia Pacific-based DragonFinancials, which declared a total interim dividend of US$2mln.

Last month, the company said it was switching focus away from binary option trading towards foreign exchange and contracts for difference.

At the time, it said revenues for the six months to June 30 would be US$7mln with an operating loss predicted to no greater than US$400,000 for the period.

At end June, it had US$5.8mln in cash.

Quick facts: TechFinancials, Inc.

Price: 0.45 GBX

AIM:TECH
Market: AIM
Market Cap: £385.56 k
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