The Glazer family have not taken their semi-annual dividend from Manchester United, the club's latest financial results have disclosed.
The Glazer family confirmed they were open to ending their 17-and-a-half-year ownership of United on November 22 as part of "a process to explore strategic alternatives for the club".
In the previous financial results that were posted in September for the year up to June 30 2022, United paid £33.6million out in dividends, mostly to the Glazer family, which was up by more than £20m on the previous year.
Also read: United have been handed an £18m boost ahead of winter window
Sources say the decision reflected factors including the significant investment made in the squad in the summer. United invested £225.4m in signings in the last transfer window.
The last dividend payments took the total payments to £155m in seven years and the policy has angered United supporters who have criticised the Glazer family for siphoning off the club rather than investing in it.
It is the first time the Glazers have not taken dividends since 2016. A supporter grilled chief executive Richard Arnold on how the dividend payments were justified earlier this year.
"Dividends are a mechanism for providing a return to investors, including pension funds and thousands of small investors and fan shareholders, based on long-term profitability," Arnold explained at the time.
"While the pandemic has impacted recent financial performance, we were consistently profitable in the years beforehand and we expect to be again in future.
"Our five-year average dividend yield of 1.1%, compares with average of 1.7% for S&P 500 and 3.9% for FTSE 100 companies. Our dividend policy is subject to annual review by the Board of Directors."
The co-chairman, Joel Glazer, has not attended a United game since the Champions League quarter-final against Barcelona at Old Trafford in April 2019 and fellow co-chairman and brother Avram has only been to one United game in the last three years.
Figures at United believe the figures represent solid growth in revenue, which has increased by 13.6%, with their commercial revenue also up by 35.7% from £64.4 to £87.4m.
United embarked on their first pre-season tour in three years in Thailand and Australia, where they played four games in Bangkok, Melbourne and Perth.
The club's debt remains unchanged at $650m (£530.1m).
READ MORE:
