One of our themes for investing in JP Morgan Chase (JPM), Wells Fargo (WFC), and Morgan Stanley (MS) is
increased returns of capital to shareholders.
Not exact matches
Businesses are under
increasing pressure from
shareholders and owners
to continually optimise the deployment
of capital and maximise
returns.
«Is it our goal
to increase return to our
shareholders and do we have an excess amount
of capital?
A
shareholder proposal by Carl Icahn
of a non-binding advisory resolution that the Company commit
to completing not less than $ 50 billion
of share repurchases during its 2014 fiscal year (and
increase the authorization under its
capital return program accordingly)(Proposal No. 10); and
«RESOLVED, that the
shareholders hereby approve, on an advisory basis, High River's proposal that Apple commit
to completing not less than $ 50 billion
of share repurchases during Apple's fiscal year ending September 27, 2014 (and
increase the amount authorized for share repurchases under its
Capital Return Program accordingly).»
«The over 15 percent
increase in our dividend reflects our continued commitment
to return capital to shareholders through a balanced approach
of quarterly dividends and opportunistically buying back shares,» said Stephen P. Weisz, president and chief executive officer.
In addition
to the 7.6 %
capital appreciation (Closing Annualized ROR), long - term
shareholders of Franklin Resources Inc would have received an additional $ 27,243.83 in dividends that
increased their total
return from 8.3 %
to 7.6 % per annum.
The strong growth and cash flow from Humira, the continued development
of their drug pipeline, and management's commitment
to returning capital to shareholders through dividends has
increased our estimate
of fair value for the company and changed our holding period from one year
to multiple years.
In addition
to the 5.5 %
capital appreciation (Closing Annualized ROR), long - term
shareholders of General Mills Inc would have received an additional $ 50,404.63 in dividends that
increased their total
return from 5.5 %
to 7 % per annum.
If we hope
to see the present value gap eliminated, and Argo's intrinsic value
increased, we need
to see: i) a significant level
of (new) fund - raising, ii) a
return of surplus
capital to shareholders (via a value - enhancing share tender / buyback), or iii)(ideally) both!
Presuming that, management should now place an
increasing emphasis on
capital allocation: i) Surplus cash continues
to build (the company has minimal debt), and ii) unless we see a dramatic turn - around, the stagnant revenue & collapsing margins
of the Electronic division (Grosvenor Technology) are worth more sold off, with the proceeds
returned to shareholders (or reinvested in Asset Protection).
The Board intends
to continue its approach
of considering
returning to shareholders any excess
of earnings over the sum
of ordinary dividends for the financial year and
increased capital requirements, normally in the form
of special dividends.
Instead
of spending
capital on growth, cash flow from existing operations can be
returned to shareholders in the form
of share buybacks and
increased dividends.
SUMMARY Extensive experience in evaluating, designing and implementing human
capital programs
to enhance the competitiveness
of pay / benefits, reward
shareholder returns, support the retention
of key talent,
increase pay / benefits delivery efficiency and reinforce strategic and business plan goals.