Manchester United paid an extra £11.9million in dividends to shareholders within the three months from April 1 to June 30, taking the overall for this monetary yr to only over £23million.
Nearly all of these dividends have been paid to the six Glazer relations who maintain shares and it comes regardless of United revealing the COVID-19 pandemic has value them £70million in misplaced revenues to this point.
The fee of dividends comes as many firms droop such outgoings on account of the pandemic, with a report in August suggesting 445 UK companies had cancelled, minimize or suspended dividend funds because the disaster started.
The monetary outcomes additionally confirmed an increase in web debt on account of the decline in money because of the pandemic and spending on new gamers, though the principal degree of precise debt has remained unchanged.
In addition to asserting the outcomes for the earlier three months United additionally revealed their monetary outcomes for the yr from July 1, 2019 to June 30, 2020 in the present day, with revenues falling by £118.1million.
That loss in an 18% downturn in 12 months, with a 38% shrink in revenues in the course of the remaining quarter.
Talking to traders after asserting the monetary outcomes, government vice-chairman Ed Woodward mentioned: ” We’re trying again in the present day on what has been probably the most extraordinary and difficult seasons in current historical past; and I’m pleased with the best way the membership continues to reply.
“There are nonetheless massive challenges and uncertainties forward because the coronavirus pandemic continues to disrupt our lifestyle throughout the globe. This disruption is obvious to see within the monetary outcomes that we’re asserting in the present day and we count on the impression to stay seen for fairly a while to return.”