Stagecoach plans to return ^340m to shareholders

Chris from Nailsea

Administrator
Hero Member

Posts: 19560

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.


	Logged

William Huskisson MP^▸ was the first person to be killed by a train while crossing the tracks, in 1830. Many more have died in the same way since then. Don't take a chance: Stop, Look, Listen.

"Level crossings are safe, unless they are used in an unsafe manner." Discuss.

JayMac

Data Manager
Hero Member

Posts: 19305

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


	Logged

"Good news for regular users of Euston Station in London! One day they will die. Then they won't have to go to Euston Station ever again." - David Mitchell

bobm

Administrator
Hero Member

Posts: 10236

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?


	Logged

Btline

Hero Member

Posts: 4782

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...


	Logged

ChrisB

Transport Scholar
Hero Member

Posts: 13331

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!


	Logged

autotank

Transport Scholar
Sr. Member

Posts: 241

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.


	Logged

JayMac

Data Manager
Hero Member

Posts: 19305

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....


	Logged

"Good news for regular users of Euston Station in London! One day they will die. Then they won't have to go to Euston Station ever again." - David Mitchell

autotank

Transport Scholar
Sr. Member

Posts: 241

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.


	Logged

ChrisB

Transport Scholar
Hero Member

Posts: 13331

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.


	Logged

Tim

Hero Member

Posts: 2738

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.


	Logged

Do you have something you would like to add to this thread, or would you like to raise a new question at the Coffee Shop? Please [register] (it is free) if you have not done so before, or login (at the top of this page) if you already have an account - we would love to read what you have to say!

You can find out more about how this forum works [here] - that will link you to a copy of the forum agreement that you can read before you join, and tell you very much more about how we operate. We are an independent forum, provided and run by customers of Great Western Railway, for customers of Great Western Railway and we welcome railway professionals as members too, in either a personal or official capacity. Views expressed in posts are not necessarily the views of the operators of the forum.

As well as posting messages onto existing threads, and starting new subjects, members can communicate with each other through personal messages if they wish. And once members have made a certain number of posts, they will automatically be admitted to the "frequent posters club", where subjects not-for-public-domain are discussed; anything from the occasional rant to meetups we may be having ...

Pages: [1]

« previous next »