When will Sheikh Mansour start taking dividends/cash?

hilts said:
Probably end of August just before the start of his kids new school year. Uniforms from C&A are quite pricey plus Star Wars lunch boxes and assorted pens etc... from Woolworths are a further unwelcome expense.
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What is “Woolworths”?
 
DorisBlue said:
Could be wrong but we dont have reserves on balance sheet to distribute dividends anyway. He gets cash by selling minority holdings and hence gets the cash from external investors not the club itself. No indication of him taking cash from the club and see no reason for that to change. Drop in the ocean to his wider investment portfolio
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That’s my understanding too.

As of United’s latest accounts they seem to be also showing a negative retained earnings figure. So if they don’t make a profit in the next accounts they wouldn’t be able dividends going forward either. I’ve not read that anywhere when people are talking about this latest dividend.

Not sure if I‘ve missed something though, as I’d expect that to reported if true.
 
SamTheGuru said:
Stakes of CFG have already been sold off at significant amounts. The value is in the asset. I very much doubt there is any intention to go down the cash machine route if that is what you are implying.
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He’s taken out circa $800 mil out in those 2 deals hasnt he….?
 
DorisBlue said:
Could be wrong but we dont have reserves on balance sheet to distribute dividends anyway. He gets cash by selling minority holdings and hence gets the cash from external investors not the club itself. No indication of him taking cash from the club and see no reason for that to change. Drop in the ocean to his wider investment portfolio
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At Last.! Someone who knows what he is talking about rather than would be Accountants who don’t understand Company Law.
We have negative Reserves on the balance sheet.
The various Companies Acts prevent Companies making what are called Distributions ( that includes dividends ) whilst the Distributable Reserves are a negative figure.
The negative Reserves were over £728 million in the last Accounts so a long long way to go before they are covered.
The Law is there to protect the Creditors getting fleeced by the Shareholders.
So there will be no Dividends payable to anyone until those negative reserves become positive.
The Great Sheikh and the other shareholders prop up the Company (and the City Football Group) by keep issuing more shares to themselves.
Not sure HE sells shares to external shareholders as the above poster suggests..
City sell the shares to the Holding Company which means the cash stays within the Club rather than going to him.
His percentage holding of the cake in the Group will drop when other shares are issued to external shareholders but I don’t think his intention is to cash in just yet.
The fact that more shares are issued by the Company each year would indicate that.
What further complicates things is there is Group situation here and whoever owns the Group called the Ultimate Holding Company will dictate Dividend policy but bear in mind as more and more Clubs are being acquired, it’s an even longer period before the Group will have distributable Reserves,as it will take years for them to become profitable.
The Ultimate Holding Company Of CFG is Newton Developments & Investment Co LLC and as it this Company registered in ABU DIABI it Is probably cloaked in secrecy.
 
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