Stagecoach plans to return ^340m to shareholders

Chris from Nailsea

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Justice for Cerys Piper and Theo Griffiths please!

Stagecoach plans to return ^340m to shareholders

« on: August 20, 2011, 23:46:23 »

From the BBC^» British Broadcasting Corporation - home page):

Quote

Stagecoach plans to return ^340m to its shareholders, a move that would see its chief executive Brian Souter, who owns 15.1% of its shares, receive ^51m.

If the plan is approved, shareholders will get 47p per ordinary share held.

Mr Souter's sister and fellow founder of the Perth-based transport group, Ann Gloag, is in line to receive ^37m.

The company also said revenues at its main UK^▸ rail businesses had risen 8.4% in the three months to 24 July, while its UK bus revenues rose 2%.

The 8.4% increase in rail revenues applies to the South West Trains and East Midlands Trains franchises, while revenues at Virgin Rail, in which Stagecoach has a 49% stage, rose 11%.

Stagecoach added that it was on course to meet its full-year profit targets.

The company last made a special payment to shareholders in 2007 when it returned ^700m.

In June this year, Stagecoach said higher petrol prices were persuading more people to switch to using public transport.


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JayMac

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Re: Stagecoach plans to return ^340m to shareholders

« Reply #1 on: August 20, 2011, 23:53:52 »

No plans to return any of that 1/3 Billion to passengers by way of fares reductions then? Roll Eyes


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bobm

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Re: Stagecoach plans to return ^340m to shareholders

« Reply #2 on: August 21, 2011, 00:39:59 »

What ever happened to staff bonuses - staff on the front line. Yes you need shareholders - but you need people out there doing the job. Anything in the plan for them?


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Btline

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Re: Stagecoach plans to return ^340m to shareholders

« Reply #3 on: August 21, 2011, 01:15:59 »

I wonder what SHRUG will make of this...


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ChrisB

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Re: Stagecoach plans to return ^340m to shareholders

« Reply #4 on: August 21, 2011, 11:03:33 »

Most of them got better pay rises that the rest of us already! Who else in the private sector got anything close to RPI^▸ ?

But yes, the suggestion of it coming back to customers in some way is fair!


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autotank

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Re: Stagecoach plans to return ^340m to shareholders

« Reply #5 on: August 21, 2011, 12:27:05 »

As a shareholder I'm delighted - especially when most of my other investments are going down the toilet! It's too easy to bash shareholders but they are vital and deserve to be rewarded when things go well.


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JayMac

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Re: Stagecoach plans to return ^340m to shareholders

« Reply #6 on: August 21, 2011, 21:23:17 »

Quote from: ChrisB on August 21, 2011, 11:03:33

But yes, the suggestion of it coming back to customers in some way is fair!

...Or even Fare's Fair! Grin

(Although I baulk at being called a 'customer' ... Tongue

)

Quote from: autotank on August 21, 2011, 12:27:05

That'll be a dividend from a company that is currently seeing a large part of its profits made up from revenue support from HMG....


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"A clear conscience laughs at a false accusation."
"Treat everyone the same until you find out they're an idiot."
"Moral indignation is a technique used to endow the idiot with dignity."

autotank

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Re: Stagecoach plans to return ^340m to shareholders

« Reply #7 on: August 22, 2011, 14:14:59 »

Lots of companies make money out of HMG - look at defence and health! Can I be as bold to say your issue should be with the politicians who created the system, not with companies who are operating within the rules/laws.


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ChrisB

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Re: Stagecoach plans to return ^340m to shareholders

« Reply #8 on: August 22, 2011, 14:15:40 »

quite - I've been saying that for ages.


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Tim

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Re: Stagecoach plans to return ^340m to shareholders

« Reply #9 on: August 22, 2011, 14:23:25 »

Quote from: bignosemac on August 20, 2011, 23:53:52

No plans to return any of that 1/3 Billion to passengers by way of fares reductions then? Roll Eyes

I believe that would be illegal.

The company is legally obliged to maximise shareholder value.


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