Wasn’t it a 2 year plan to return capital of 1.1 billion to shareholders. thru dividends and buybacks?
Only approx $450 million was returned as dividends over that period and about $750 million went to the board minority favoured one’s.
That amounts to 68% of the 1.1 billion, bypassing the majority of shareholders who are retail shareholders.
Past practises, AMP would kindly have given a distribution off the 68% for holders who wanted to retain their shares.
The percentage of redirection to the T20 needs investigation by ASIC.
Other companies that I have interest in, the worst case percentage is about 40% and it includes the buyback of notes besides shares.
What is the aim of the buyback?, page-71
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