Trust Statement – Dividend Receipt
Swansea City Supporters' Trust is delighted to confirm that it has received its interim dividend payment as announced by the Club in line with its most recent accounts, which show a net profit of £15.9 million for the 6 months to 30 November 2012. Click Here to read the full Club statement
Added to a net profit of £14.6 million in the previous full financial year this highlights the strong financial position of the Football Club, and that the principles used in managing the Club since the current shareholders took over in January 2002 have not changed since promotion to the Premier League.
The Club accounts confirm the sharing of a dividend of £1m to be paid to shareholders, which means that the Trust is in receipt of a dividend payment of £199,999 in relation to its shareholding in the Football Club.
Trust Chairman Phil Sumbler commented “The accounts of the Football Club confirm the prudent nature in which we operate and the current board are to be commended for their careful management of the Club within budgets, whilst also allowing us to remain competitive on the field, highlighted by us securing a third season in the Premier League as well as a return to European football through our successful Capital One Cup campaign.
“Add to the fact that the club is investing in our long term future through the development of both the Landore and Fairwood sites, and the aims we helped put in place back in 2002 are still in force by the safeguarding of the Club’s long term status.
“In terms of the interim dividend, the Trust board fully backed the vote of the Directors in the award of the dividend, when you factor in that during the 11 years in charge, no return on investment has been asked for or offered, until such time that the Club has been in a position that they could afford to consider such return to investors.
“In terms of our dividend receivable, in line with the aims of the Trust and the mandate given by our members, we will retain the money for future investment in the Football Club, ensuring that all monies paid to us will eventually end up invested in the Club at an appropriate time.
“We firmly believe that the receipt of this dividend ratifies all decisions taken 11 years ago for supporters to invest within the Football Club, and highlights the remarkable story of the rise of Swansea City.”
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