OnTheMarket is to ask its shareholders to vote for a major dividend payment change, should the board consider it appropriate in the future.

Agents hold approximately 60% of OnTheMarket’s shares, positioning them to benefit from any future dividend payments made by the company.

The board will hold a general meeting on 26 May for shareholders to consider a proposed capital reduction that would provide the company with greater flexibility to pay dividends to shareholders.

Jason Tebb, CEO of OnTheMarket, said: “In 2014 agents began investing with loan notes and pre-subscription fees to build their own portal in order to share the rewards of its future success.

“Over the last few years, we’ve seen OnTheMarket go from strength to strength with the launch of our new website, new valuation driving products and new commercial partnerships. We’re now exploring the next steps required to build on this momentum and realise those rewards for our shareholders.”

He continued: “We remain committed to the provision of a proposition differentiated by agent ownership and this is another major step on that journey.”

“We’re continuing to evolve the business to support our long-term aim of increasing the value we offer our customers, in line with our strategy of building a differentiated, technology-enabled property business. We remain committed to keeping our listing fees fair and sustainable, whilst working to create value which, as owners, our shareholder agents can share in.”