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Financials

3i Group to pay 2020 dividend; profit slips to a third of last year

May 14 (Reuters) - 3i Group Plc stuck to its plan to pay a 2020 dividend on Thursday after saying profits fell to just a third of those a year ago due to a slump in the value of its private equity investments in travel, retail and automotive businesses in March’s global market selloff.

The company, which is focused on mid-market private equity and infrastructure, said the total return was 253 million pounds ($308.56 million), representing a profit on opening shareholders’ funds of 3%, compared to 1.25 billion pounds or 18% in the financial year ended March 2019. ($1 = 0.8199 pounds) (Reporting by Muvija M in Bengaluru; Editing by Rashmi Aich)

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