Exact(9)
Over the last 20 years, dividends have provided 39percentt of the total return.
Approached for comment, Thames didn't deny the findings: "Some years dividends exceed the years' profits, sometimes they are less".
Approached for comment, Thames didn't deny the findings: "Some years dividends exceed the years' profits, sometimes they are less". What has certainly not exceeded expectations is corporation tax: Thames admits it won't pay any for the next six or seven years.
When I put these findings to Thames, its response was the email equivalent of a shrug: "Some years dividends exceed the years' profits, sometimes they are less". This was even while the company successfully managed to offload much of the cost and the risk for the Thames Tideway tunnel on to ordinary households.
In early years dividends were fat while P/E multiples didn't go anywhere.
No market in the postwar period has cost investors money after eight years, dividends included.
Similar(51)
The company, based in Rochester, expects to pay full-year dividends of $1.80 a share in 2002.
Full-year dividends are $2.16, up 8.0% from last year.
In the past five years, in dollar terms, Daiei's stock has lost 26%a year, dividends included.
Payouts coming out of current-year dividends and capital gains get the advantage of the new 15% tax rate.
The full-year dividend is maintained at 14.76p a share.
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