shouldn't make any difference

if they don't pay a dividend then that just means the club is worth more (ie worth more than they would have been if they'd shelled out a load of cash to sharereholders)

so the shareholder's stake is worth more, by exactly the same amount that he suffered for not getting a dividend.

Posted By: Tricky Hawes on January 24th 2010 at 10:43:30


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