Family received ~$1.2B in dividends last FY.
Recent special stock buyback, $1.5B
This FY, quarterly dividends received, $240m
Special dividend to offset change in stock price due to buyback ~$450m.
Cargill only generated ~$3.4B in wealth for the fam over the last ~18 months?
All this makes sense now.
I'm also in the "the potential i get a bonus is low" camp. However, I don't hate on the family... if u were only getting <3% return on your investments you would be concerned and/or p*ssed. I think the family is also in the same camp as worker bees... fake profit promises to keep them at bay, no family involvement to know differently and ET that has figured out how to pillage the company through STI/LTI levers. Promotion of group think ensures the program continues at those levels... get close enough and you too will get paid to keep the peace.
As soon as a family member hits the birthing table- they are an immediate multimillionaire. NEVER have to work. Just hang out in Sun Valley or Jackson Hole. Maybe worry about a silly foundation. Talk about entitlement.
And to think 5% of the worker bees lost their livelihood after working diligently- just so the check to a family member keeps rolling in.
Correct. Profit isnt the problem they just want more. Sh-t bonus this year under the guise of not meeting targets. They made over $3b...fu-k the company and its useless hr leadership bootlicking fatasses team.
as I posted in another thread. . . The family gets monthly checks bigger than your annual salary. They are greedy af and not connected with reality.
Just checked your math and when I hit equals came up with this: greed.