Blog posts

Investing for Income – More Than Just Seeking a High Yield

Vanishing Dividends Every week brings news of a major company cutting or suspending its dividend: this week, it was BT. For investors who rely upon dividends for income, the search for a reliable, sustainable dividend becomes ever harder. There are no shortage of commentators who believe that most companies should be putting dividends on hold now. Certainly, the story of Easyjet paying out significant dividends on the same day as it requested a bail out from the government struck many as irresponsible. When ...

The Political Manifestos and their Impacts on Investors

Here are some comments on the manifestos of the major political parties, now that they are all available. I focus on how they might affect investors. Most readers will...

BT Hit By False Accounts

The share price of BT Plc (BT.A) fell by over 20% yesterday after reporting that it would have to write off £530 million in its accounts as a result of "improper accounting practices" in its Italian subsidiary. That included "improper sales, purchase, factoring and leasing transactions" according to the announcement by the company. BT's CFO Simon Lowth commented that including borrowing against receivables to pay debts, improper sale and leaseback transactions and shifting of operating expenses into capital budgets. The company's ...

AGM Reports

BT Group plc (BT.A) AGM 2015

AGM held at 11 am on 15th July 2015 at 1 Old Billingsgate, London and was closed at 1 pm for lunch. Share price £4.65 – a FTSE 100 company with a £39bn market cap. There were approx. 1,000 attendees. Sir Michael Rake, Chairman of BT opened the meeting. Chief Executive Gavin Patterson made a presentation on BT’s progress. BT has four core services: Fixed Line, Broadband, TV (TV anywhere, Netflix, AMC American Channel) & Mobile (buying EE). Content is being driven by BT Sport ...

Leaders and Laggards

LeaderBT’s CEO Sets a Good Example

The BBC is reporting that BT's CEO will donate half his annual salary to charity and has promised not to lay off staff. Setting a good example that other CEOs on generous packages should follow at this time when individuals and H.M. Treasury are making big sacrifices to protect the nation's health and economy. It should be noted, however, "half his annual salary" appears to refer to his BASE salary, as reported in more depth, here: His MAXIMUM salary, including potential cash and ...

ShareSoc News

ShareSoc urges shareholders to vote in favour of the removal of Sir Michael Rake as EasyJet Chairman

PRESS RELEASE 30 (21/07/2012) ShareSoc notes the proposal to remove Sir Michael Rake from his role as Chairman at EasyJet and feels obliged to support it, in the light of the many crucial positions that Sir Michael Rake currently holds. As well as his role as chairman of EasyJet, Sir Michael Rake is also Chairman of BT Group, Deputy Chairman, senior independent director and chair of the audit committee at Barclays Plc. He is also a non-executive director of McGraw Hill and holds ...

Media Mentions

FT, 16 Nov 2019, Labour’s BT plans leave investors nervous

Our chairman is quoted by the FT, responding to Labour's broadband policy announcement. “The [Labour party] policy is fundamentally flawed,” Mr Northway said. “It will make the UK a no-go area for capital.”