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€50m for TVC investors

DUBLIN investment group TVC Holdings plans to return €50m in surplus cash to shareholders as part of a special dividend of 49.5 cent per ordinary share.

The company said that the decision was made due to the "very limited number of investment opportunities" and following a review of its strategic and financial options to enhance shareholder value.

The group generated an annual return on its portfolio of €9.3m for the year to the end of March.

Cash and government bonds increased by 9.5 per cent during the year from €72.6m to €79.5m.