Jacob Rees-Mogg to receive about £500,000 in hedge fund dividend

Bigger multimillion-pound payout from stake unlikely with Somerset Capital Management no longer up for sale

Former business secretary and staunch Brexiter Jacob Rees-Mogg will receive about £500,000 in annual dividends from his stake in Somerset Capital Management, the hedge fund he co-founded in 2007.

However, the prospect of Rees-Mogg collecting an even bigger multimillion-pound windfall appears to be on ice, as the Guardian understands Somerset is no longer holding talks about a potential sale of the firm valued at between £70m and £100m.