Figures are from Barclays Results Announcements and Annual Reports. This graph doesn’t really require much in the way of commentary, does it? It isn’t hard to see where most of the spare cash Barclays generates is going, and it certainly isn’t to the shareholders who were nearly wiped out in the financial crisis.
Since Legal & General Investment Management, Standard Life and Insight Investment are amongst the readers of cantankerous, isn’t it about time institutional shareholders took action to ensure that Barclays is run like a plc rather than an employee partnership? If you want a copy of the spreadsheet to check the figures, get in touch – they really are unbelievable.
Barclays Capital employees prosper as shareholders suffer
Just to make sure I got his right.
Barcap pay went up 4-fold from 2008.
While dividends are about a quarter, from what they were then.
Even from 2005 to 2007 Barcap pay was only about 50% more than dividends, on average.
By 2010 Barcap pay was a staggering 11 times what was paid out in dividends, i.e. 1000% more!
Thanks for these graphs, cantankerous. What I suspected all along.
For fXXX’s sake, is anybody happy with the pillaging of shareholders?
Here are the raw numbers in £ millions:
Year – Barclays Dividends – BarCap Pay
2005 —— 1687 —— 2153 (1.27 x div)
2006 —— 1973 —— 2926 (1.48 x div)
2007 —— 2079 —— 2384 (1.14 x div)
2008 —— 2344 —— 1236 (0.53 x div)
2009 —— 113 —— 3582 (31.7 x div)
2010 —— 531 —— 5447 (10.3 x div)
Does the chart includes share repurchases? Since these are no more than divinds in snother form
What about changes inthe share price over that period? (i.e. capital gains or losses?)
Clive,
No, it doesn’t include share repurchases. It doesn’t include the shafting of existing shareholders in the Gulf financing either or the impact of the rights issues.
Here’s a graph of TSR (Source: Barclays Annual Report – but very well hidden) which makes for depressing reading and paints a fuller picture than dividends alone.