Not exact matches
At today's prices, industry forecasts of three million barrels per day by 2020 are likely to underestimate production by a bit, but the real kicker will be on the value of that production to all concerned — governments, via taxes and royalties, and
shareholders will all suffer much lower
returns from this development than they would have expected less than a year ago if prices stay
where they are today.
«We are moving forward with a continued sense of urgency on our four strategic priorities: narrowing our focus on clients, products, and geographies
where we can grow profitably; driving for efficiency; growing through innovation and optimizing our data assets and client relationships; and
returning excess capital to
shareholders,» he added.
In a business
where the management team can choose to
return capital to
shareholders if
returns available are not adequate, we think at worst the business is worth book value.
Areas
where corporations have put this cash to work include: continued dividend increases and share buybacks, which
return capital back to
shareholders; ongoing investment and capital expenditures as well as research and development; and increasing productivity and lowering cost structures.
This is the solution used for pass through taxation entities,
where deferral of taxation is avoided by the pass through mechanism that immediately taxes
shareholders whether or not profits are distributed, but it becomes complex when the entity incurs taxes in many states that must be passed on to all of the owners to report proportionately on their individual tax
returns.
We are witnessing the auto industry enter a new phase,
where shareholder money only will be invested in ways that provide double digit
returns.
We are witnessing the auto industry enter a new phase, one of steely - eyed, hard - nosed business decisions,
where shareholder money only will be invested in ways that provide double digit
returns, including the cost of capital.
The Fund has no sales load (a charge for purchasing the fund), no soft - dollar arrangements (
where fund managers receive research, data terminals and other benefits in
return for paying higher commissions to brokers), no trailing fees (
where funds pay brokerages an ongoing percentage of assets in order to bring business to the fund), and no 12b - 1 marketing fees (
where shareholders pay an amount over and above management and operating expenses, so that funds can advertise and attract new
shareholders).
On the other hand, once companies have matured to the point
where they don't need to spend all of the money they generate on growing the business, there are two main ways to
return capital to
shareholders — dividends or share buybacks.
mREITs are like equity REITs REITs payout 90 % of their taxable income to
shareholders in dividends, and, in
return, pay no tax on the earnings they distribute — but that is about
where the overlap ends.
Through this general line of thinking, you might conclude that future
returns will be lowest in expensive markets and greatest in cheap ones; lowest
where information is plentiful and straightforward, and greatest
where it is scarce and hard to interpret; and lowest when markets are priced to reflect
shareholder - oriented management and greatest
where managements are currently indifferent.
In a business
where the management team can choose to
return capital to
shareholders if
returns available are not adequate, we think at worst the business is worth book value.
Where is the
return on investment for the TBAC
shareholders?
We will always take active currency positions
where we believe there is an opportunity to enhance
returns for our
shareholders.
This is
where shareholders should be concerned — if companies are committing to future production which may never generate the
returns expected.»
Some of the lowest numbers of filings occurred in the BVI and the Isle of Man
where alternative processes to petitions exist for creditors or
shareholders, while Mauritius
returned a disproportionately high number of filings, fuelled by a significantly larger population and domestic economy.