Kieran Maguire: Man United fans will be livid after £11m confirmed reveal today
The decision to pay an £11million dividend to shareholders despite company-wide losses “will not go down well” with Man United fans.
That is the view of finance guru Kieran Maguire, speaking exclusively to Football Insider about the Glazers’ latest tranche of payouts.
A statement that accompanied United’s last set of quarterly results released in November revealed that shareholders are due £11m today (7 January).
United, the only club in the Premier League to pay a dividend, did not disclose how the payment will be divided between Class A and B investees.
The Red Devils revealed a £10.2m operating loss in the same set of quarterly results, while the last annual figures showed a £92m shortfall.
United are currently 7th in the Premier League and performances have waned amid widespread reports of dressing room disharmony.
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Maguire claimed the dividend will irk bedrock United fans in light of the club’s on-pitch results and overall financial picture.
“The majority of shares are owned by the Glazer family, so they effectively dictate the dividend policy,” he told Football Insider‘s Adam Williams.
“From a communication point of view, it doesn’t look great at all. United in 2020 lost £23m in 2020, or £92m after tax in 2021.
“Given those circumstances, to be giving out dividends every six months looks very clunky.
“The Glazers have made a lot of money from share sales, so this will not go done well with the United fanbase.”
United announced yesterday (6 January) that Richard Arnold is set to become their new chief executive.
He replaces Ed Woodward, who operated under the title of executive vice-chairman.