Man Utd to pay millions to Glazers in latest dividends
Manchester United are all set to pay their shareholders a dividend of approximately £11million on Friday and it is reported that majority of that amount will go to the Glazer family.
The club has confirmed the new dividend payment on the release of their latest quarterly financial reports in November 2021.
That financial report stated: "A semi-annual cash dividend on our Class A ordinary shares and Class B ordinary shares of $0.09 per share was paid from our operating cash flows on 30 July 2021.
"A further semi-annual cash dividend on our Class A ordinary shares and Class B ordinary shares of $0.09 per share will be paid from our operating cash flows on 7 January 2022 to shareholders of record on 1 December 2021."
Manchester United paid the Glazers over £23million in dividents in the 2019/20 financial year.
In June 2021, dividend worth £10.7m was paid by the club to shareholders with the Glazers getting approximately £8m from that amount.
Joel Glazer spoke on dividends in the fan forum in June as he said, "I know this is a subject that a lot of people have a lot of different views on, but when we take things and look at things as a whole, we think that Manchester United is a very well-run club, and we think clubs throughout football could take a look at us, and there's a lot of good to be seen when it comes to some of these things that are controversial.
"You know, we're able to spend with the top clubs throughout Europe, whether it's wages or transfer fees, we've been able to keep our ticket prices low, we've not increased them in over 10 years. We're able to pay a dividend but it's a modest proportion of our five to six hundred million pounds of revenue; it's less than three per cent of that.
"We're able to do all these things and that's to me the sign of a well-run club. It has never stood in the way of us pursuing players or transfers on the pitch. We may have walked away from transfers at times because the other side wanted an outlandish number. And while it's easy to pay it that one time, it does have consequences. You do it once and the next person expects it, and then the next person expects it. And that's not good, ultimately, for the club.
"So, we think that we're able to accomplish all these things and still have a very, very successful club and invest, and do everything that is necessary for a club of our stature."