It’s not corporate Britain you fool

Corporate Britain is cutting its dividend payments. Despite this, the FTSE 100 index of the largest quoted companies is 20 per cent higher than it was on March 23, the day Boris Johnson announced lockdown.

75% of FTSE 100 revenue comes from outside the UK. The FTSE100 is companies listed in London, not companies working in Britain. Some of them have no connection nor business in the UK other than their listing.

But then Ollie Kamm, everything that’s wrong with the establishment view, always.

6 thoughts on “It’s not corporate Britain you fool”

  1. Good to see a journalist who is aware of the dividend valuation model. But irritating that he doesn’t discuss how difficult it is to match it up with reality. I guess he is leaving that to the Grumpy Economist

  2. Off topic but the wonderful logic of Spud.

    Spud – “inflation only occurs at full employment”

    Bez – “where is the evidence?”

    Spud “as for inflation – give us your evidence, please”

    Seamus Coran “Argentina has an inflation rate of 41.3%. It does not have full employment.

    Turkey 11.76%, Uruguay – 10.13%, India 6.09%, Haiti – 20.4%

    None of them have full employment either.

    Argentina, Turkey and India are members of the G20. Any sensible person would accept this as evidence.”

    Spud “Any sensible person would accept there are multiple reasons for inflation, not all within a government’s control”

  3. Fair criticism of the odious Kamm. But I guess companies outside the UK are also cutting dividends. I wonder what proportion of FTSE 100 companies pay dividends at all?

  4. But still ~25% lower than 1 January. It’s like complaining that the rich have gotten richer since 2009…

  5. More ‘The Times’ leftie nonsense and missing the glaringly obvious

    The National Audit Office is to investigate government contracts for protective equipment awarded at the height of the pandemic amid an outcry over the decision to spend more than £150 million on unusable facemasks.

    – The Times revealed yesterday that about 50 million masks bought without a tender process from Ayanda Capital, a London-based investment company with no experience of government contracts, had been deemed unusable for frontline healthcare workers…”

    £3 per single use mask is considered OK by Times, Labour, NHS etc?

    Face Mask FFP3 NR Display Box 25pk £23.11 (£27.73 INC VAT)

  6. I worked with him back in the 1990s as an equity strategist at James Capel. Phil Collins too as it happens. So he knows his investment fundamentals. But both he and Phil have long since Taken up political polemicism as leader writers at the Times.

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