Panama Paradise Papers

Discussion in 'world politics, current affairs and news' started by Bernie Gunther, Apr 3, 2016.

  1. keybored

    keybored

    In Soviet Russia, story breaks you.
     
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  2. pocketscience

    pocketscience Well-Known Member

    No, a dividend is a fixed percentage of a stocks price that's annually payed out. It's payed by the company to the shareholders irregardless of whether the price of the shares has risen or dropped. Only a few (more blue chip) companies pay out a dividend.
    Dividend rates are typically anywhere between <1% up to ~4% of the stock value.
    So, from a back of a fag packet calculation, at the lower end he holds (based on a higher dividend rate at 4%) at least £1.1M worth of shares. At an rate of 1% he'd be holding over £4.4m worth. So an average guesstimate of £2.2M*
    *bearing in mind that perhaps only about 10% of FTSE companies pay dividends, we could extrapolate the assumption that he holds £22M of shares (held only in the UK!).

    eta after reading DanUs post; yeah, if he's invested in part of his old mans company anythings possible. As an extreme example he could basically own only one special share that pays a 44 grand annual dividend.

    So basically we could be looking at him owning anywhere between £1 to £44 millionss worth of shares from the information provided :D
     
    Last edited: Apr 11, 2016
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  3. brogdale

    brogdale Coming to terms with late onset Anarchism

    two sheds likes this.
  4. DexterTCN

    DexterTCN Well-Known Member

    he's doubled his mayoral pension contributions last year...must be expecting a new job
     
  5. brogdale

    brogdale Coming to terms with late onset Anarchism

    Not forgetting that 15/16 will include his MP salary plus trimmings.
     
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  6. Dr Alimantado

    Dr Alimantado Balmed

    My fag packet came up with a value of around £850K assuming the old man's co. was worth the book value of around £7 million at 31/3/15. If the co. was to sell for £30 million as Dan U said the upper value was this, would mean his shares are worth £3.6 million.

    I think Dan U has implied all his dividends come from his old man's co. - his register of interests shows this & I can't find it showing him having any other shares. There was a payment of 18p per share in May 2014 (which implies Georgie babe has 248K shares = £44,647/18p - this checks with around 13% of total shares, Dan U's link was 15%).

    BTW I thought all the FTSE companies pay dividends every year. I think you're right about the %'s they pay - roughly 3.5% for the top 100 FTSE's for 2014.
     
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  7. brogdale

    brogdale Coming to terms with late onset Anarchism

    Not bad dividends for a company so burdened with losses that they've dodged corp tax for 6 years running.

    Incidentally, that piece had Gideon's take as only £1230?
     
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  8. DotCommunist

    DotCommunist my world is fire and blood

    during the pig head lols we heard tell of the phrase 'well lets see the sonofabitch deny it' as an old smear till you have no energy left, they have to ignore it or risk it becoming A Thing. Now these cunts are having to deny it. And the accounts find them wanting. This is going to make may quite interesting indeed.
     
  9. Dr Alimantado

    Dr Alimantado Balmed

    Ah cheers, they do have a hyperlink to 6,835 shares which is broken, but that does equate to 18p per share.

    I can only find the following on his register of interests, which suggests he has over £70K:
    6. Land and property: (i) value over £100,000 (ii) rental income of over £10,000 a year
    Residential property in London: (i) and (ii). (Registered 21 July 2011)
    7. (ii) Other shareholdings, valued at more than £70,000
    (b) Osborne and Little Group Ltd, a family business manufacturing and retailing fabrics and wallpapers. (Updated 18 October 2012)

    The link's below if anyone can glean more than I could:

    TheyWorkForYou

    If the 6,835 shares is right then mty revised fag packet is £44,647/3.5% = £1.28 million - assuming he's got top 100 FTSE shares.

    How many goes are you allowed? :D
     
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  10. pocketscience

    pocketscience Well-Known Member

    OK now I've seen the interview he gave the beeb where he categorically states that he receives a dividend from his family' s manufacturing business. So yeah only one companies stock. So your calcs are right if it's a standard cash dividend payout.
    (aren't there also special dividend arrangements for owners?)
     
    Last edited: Apr 11, 2016
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  11. two sheds

    two sheds not as daft as i look

    'Receiving a dividend' can mean more than one share I'd thought.
     
  12. keybored

    keybored

    But only in one company.
     
  13. pocketscience

    pocketscience Well-Known Member

    Anyway, it's all a theater, them showing us their UK tax returns when we've had to rely on some hackers' leaks to show us that these rich cunts are avoiding UK tax in secretive havens.
    I'm sure Cowells tax returns look kosher... for the cash he has in the UK...
     
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  14. Dr Alimantado

    Dr Alimantado Balmed

    I think this clears it up (a dividend from his old man's co it is):

    https://www.gov.uk/government/uploa...nt_data/file/515628/Chancellor_tax_return.pdf

    (4) The dividend income relates to shares in Osborne and Little Group Limited, a UK resident manufacturing company of wallpapers and fabrics that was founded by his father. The dividends are derived from shares that the Chancellor of the Exchequer owns directly, and also as life tenant of a family trust, based and resident in the UK which holds, as its sole asset, shares in that company. The Chancellor of the Exchequer paid income tax on these dividends.

    So the Independent piece is wrong & I'll go for my first answer please.
     
    pocketscience likes this.
  15. J Ed

    J Ed I remember the future

    I quite enjoyed the Johnson slip today that non-rich people in the HoC would be 'losers'. I've always thought that that was the subtext of the argument in favour of monstersofparliament getting pay rises and abusing expenses, 'oh god if we don't let them do what they want and pay themselves whatever they want all these rich born-to-rule types will be replaced by god forbid nurses, carers, call centre workers, teachers, shop assistants and other frightful thickos'.
     
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  16. I guess this means that loonspud-for-hire Alex Jones has a load of dosh stashed in an offshore account somewhere. He's so angry. :D
     
  17. Wilf

    Wilf Aghast.

    On phone so can't link but I just looked back to the cabinet rich list of 2010. Osborne was third with 4.6m. 2m wallpaper shares, 2m London house plus 600k tatton house (daily mail). Presumably there were other monies in savings on top of that - plus he has started to get significant rental income since then.
     
  18. Wilf

    Wilf Aghast.

    Yes, getting them to answer the question,what is your personal total worth, would be impossible.
     
  19. DotCommunist

    DotCommunist my world is fire and blood

    remember the chartist movement wanted a wage for MP's precisely in order to stop it being a rich mans game. I don't think they envisioned a house, 60k a year and a massive expenses budget tho
     
  20. J Ed

    J Ed I remember the future

    I do remember, their memory is often invoked by shameful people to defend current behaviour.
     
  21. DotCommunist

    DotCommunist my world is fire and blood

    Ibis/travelodge for when you want to stay over in london for the votes and debates and etc. Thats acceptable

    20 quid a day for food and drink- steep I know but this is london where a can of coke is 90p

    average wage in your constituency as your yearly salary


    that seems fair to me
     
  22. brogdale

    brogdale Coming to terms with late onset Anarchism

    So much going on in that party...

     
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  23. teqniq

    teqniq DisMembered

    Plumdaff, Nylock and two sheds like this.
  24. Ming

    Ming Massive prawns

    I think one thing the right wing has as a strength is no deleterious emotional response to hypocrisy.
     
  25. Ming

    Ming Massive prawns

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  26. Ming

    Ming Massive prawns

    As an NHS trained nurse who thinks it's the best health care service in the world I'm not entirely sure how to take that like ;):D
     
  27. Wilf

    Wilf Aghast.

    I don't really see labour making much out of this whole thing, but that's the perfect line of attack. Combining the personal, the political and the anti corporate.
     
    brogdale likes this.
  28. brogdale

    brogdale Coming to terms with late onset Anarchism

    tbf I think Yvette Cooper could be onto something with her question asking if Osborne himself benefitted from his own higher rate cut. With earnings declared (2014/5) being well over £150k he obviously has benefitted, but remember what he said just 2 years before...

    http://www.bbc.co.uk/news/uk-politics-17474501

    Hmmm...might explain only 1 year of numbers from Osborne?
     
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  29. DotCommunist

    DotCommunist my world is fire and blood

    the faces of men who know they are just looking at a May election and then a brexit vote :D

    yeah the dog has been fucked on this one. Wether that reflects in low turnout or labour gains, well we'll see. Skinner lol
     
    teqniq likes this.
  30. Wilf

    Wilf Aghast.

    What does give you a bit of hope is that even with their array oh advisers and secretaries they are still doing real time headless chickenery. Certainly Cameron has been in that mode all week. Could easily fuck things up for several pals with his rush to close his own story down with the five years returns.
     

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