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In May 1999 the government acknowledged the return of cash.
"Some investors were hoping for a return of cash," Ms. Quadrani said.
More often, and more prosaically, they pester firms for a quick return of cash to shareholders.
The biggest mistake was a £364m return of cash to shareholders.
It also scaled back a proposed £4bn return of cash to shareholders to £1bn.
The other was disappointment that Corcoran didn't repeat last year's £200m return of cash to shareholders.
Similar(30)
Unfortunately, such returns of cash have dried up in recent months because sales of companies at a profit are now tough to execute.
The company had sought to stress executives would only qualify for big payouts if there were significant returns of cash to shareholders.
Amec is currently £300m into a £400m share buyback programme, and it strongly indicated that more returns of cash were likely next year.
Over the period from 1989, Montier calculates that only 30% of announced buybacks have turned into net returns of cash to shareholders.Andrew Smithers of the consultancy Smithers & Co has argued in the past that the stockmarket was being held up by corporate buying.
So BAE seems set on a path of small purchases in America, plus perhaps the return of some cash from the Airbus sale to its shareholders.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com