Russell & Bromley gives payout of 11.2 million pounds to family owners

UK footwear and accessories retailer Russell & Bromley, has given a payout of 11.2 million pounds to its family owners after its sales and profits soared in 2013.

The Bromley family, which first founded the footwear chain 120 year ago, ups dividend by 60 percent in 2013, after the retailer reported sales increase of 9.5 percent to 117.6 million pounds for the year to December 31, 2013, according to the Guardian. Pre-tax profits rose 12.5 percent to 21.9 million pounds during the same period.

Russell & Bromley opened its first store in 1880, in Eastbourne, East Sussex. At the time George Bromley and his wife took over the daily running of the family's store. Later in 1905, the family relocated to Bromley, Kent, where the retailer still operates from. The great-grandson of the founder, Roger Bromley, who currently holds a third of the company's shares, leds the board of directors and oversees the collections design.

The footwear retailer currently runs 42 stores, including a number of children's outlets and a dedicated men's store, as well as an online store.