Philip Hammond's Company, which Previously Served Saudi Arabia, Declares £600,000 Dividend

Matrix Partners, founded by ex-chancellor Philip Hammond, has declared a £600,000 dividend following profitable engagements, including with the Saudi government.

The company, established post-Hammond's political career, recorded £2.5 million in pre-tax profits since 2020, showing an increase from the previous year's £500,000 dividend proposal.

Hammond, the principal owner of Matrix through Chiswell (Moorgate), advises various clients, including the Saudi finance ministry, fintech firms, and other private companies. Despite a limited two-person staff, his consultancy has been lucrative, particularly in advising international governments on financial matters.

Beyond his Matrix activities, Hammond has accumulated a significant number of advisory and directorial roles in industries ranging from cryptocurrencies to real estate.

Despite criticism from a governmental watchdog regarding potential misuse of connections, Hammond maintains that his interventions have been aimed at providing unpaid support, especially during the pandemic.

His dealings, however, have raised concerns about the possibility of improper influence due to his government insights. Hammond declined to comment on these matters.