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Article: Livingstones defy crunch with pounds 230m dividend
- Article from:
- The Sunday Telegraph London
- Article date:
- September 7, 2008
- Author:
CopyrightCopyright 2008 The Sunday Telegraph London. Provided by ProQuest LLC. (Hide copyright information)
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THE RECLUSIVE British property tycoons Ian and Richard
Livingstone have banked pounds 230m after granting themselves one
of the largest dividends in British corporate history.
The billionaires generated the cash through their property
empire, London & Regional Properties, owner of a range of assets
including Park Lane Hilton and Marks & Spencer's former headquarters
on Baker Street.
They are unlikely to pay tax on the dividend, however, as both
are domiciled in the Mediterranean principality of Monaco for tax
purposes. That was also the case when Sir Philip Green's wife
Tina, a Monaco resident as well, banked the pounds 1.2bn dividend