Manchester United will pay £11million in dividends to its owners, the Glazer family, next month, regardless of the club’s latest financial results revealing net debt increase of £127.4million, a 42.2 per cent jump to £429.1million.
Last year’s club accounts revealed that the Glazers stood to undertake two dividends in 2020 of almost £11million each.
The first was taken out in January.
Now, according to ESPN, the second will be taken out on June 3.
That payment is due to go ahead as planned. On that date, Manchester United PLC were trading at $18.04 per share.
Having fallen to as low as $12.55 per share on March 18 – five days after their last match, against LASK in the Europa League – they opened May 22 at $15.86 per share.
It is not in United’s long-term interest to not pay the Glazers’ dividend, however. That February 25 confirmation duly acts as a legally binding agreement and could potentially undermine investor trust if the parent company reneged.