IG cautions on dividend after A 30m Swiss franc loss

IG Group has warned it may not be able to increase its dividend this year following its A 30m loss from last week’s turmoil following the Swiss National Bank’s decision to remove its currency cap. While this was due to an unprecedented and unforeseeable degree of movement in a major global currency and only a few hundred clients were affected, we will seek to learn lessons from this incident which we can incorporate into our risk management approach going forward.