TruFin is returning a further £17.5m to shareholders and cutting costs after deciding potential acquisitions were too expensive.
The financial technology group said it would pay a special dividend of 32.48p a share, following a £22.5m return in July, taking total capital returned to shareholders to more than £110m over 19 months.
It said it had reviewed its acquisition pipeline but considered sellers’ price expectations too high, making a return of capital the best use of its money.
Alongside the payout, TruFin is restructuring to reflect its smaller size, cutting annualised head office costs by around 30%.
Its chief executive, James van den Bergh, will take on the role of executive chairman while reducing his time and pay by half, and its finance chief will also scale back.
The company, which retains its Oxygen Finance and Satago businesses, said it would keep the capability to manage them and pursue deals if attractive opportunities emerged.