Rich listers feel pinch

SOME rich listers are a little poorer this year as many companies slash dividends.

Just 70 per cent of the 168 companies that recently reported full or interim results issued dividends, with many citing the financial losses inflicted by COVID-19.

CommSec chief economist Craig James said the 20-year average was 86 per cent.

Flight Centre founder Graham “Skroo” Turner, who last year got a $14.93m bump from the travel agency’s final 98c dividend payout, will this year get zip.

Another travel entrepreneur, Jamie Pherous, the major shareholder in Corporate Travel Management, is also looking at a leaner Christmas after virusrelated travel bans sent his company to a $10.6m loss and it cancelled its final dividend. Last year Mr Pherous collected $4.5m as the company paid a final dividend of 22c a share.

Pizza chain Domino’s, however, announced a 52.6c dividend, meaning CEO Don Meij will pocket $945,000 from his 1.8m shares in the group — slightly lower than last year’s $950,000 payday.

Super Retail Group will deliver a slightly lower payday for its shareholders this year. Founder Reg Rowe will net about $12.84m from his 65.8m shares in the group. That is down from the $17m he pocketed last year.

Vita Group chief executive Maxine Horne’s windfall has almost halved with her 29.5m shares in the phone shop and beauty clinic operator delivering a $708,000 payout after the company declared a 2.4c a share dividend, down from 4c last year.