Regardless of Brenner's trumpeting of
recent total shareholder returns, AMP has been, and remains, a perennial laggard, trading at an 8 per cent discount to the market multiple versus its historical 8 per cent premium.
Throw in the most
recent year's $ 365 billion in dividends, and the
total amount
returned to
shareholders reaches $ 885 billion, more than the companies» combined net income of $ 847 billion.