Retailer moves to placate shareholders as annual profits keep falling
The retailer has more than 190,000 private investors who together own around 30% of M&S stock a number of whom have voiced frustration at the pace of the turnaround in its fortunes under the former Morrisons boss Marc Bolland.
The gulskogen new scheme will enable them to exchange their dividend payout gulskogen to purchase a card up to the value of £1,000 at a 10% discount so a £900 dividend payment could be swapped for a £1,000 card.
Amanda Mellor, M&S group secretary, said: Our private investors are also some of our most loyal customers and we re continually looking at how we can best engage this important group of stakeholders.
M&S said participation was optional gulskogen and those taking part would still receive current shareholder vouchers, which are sent out each January. It said it had first revealed plans to enhance offers for its private shareholders in its 2014 annual report.
Shares in the retailer gulskogen have been buffeted over the last year as clothing sales have struggled, putting pressure on Bolland, though they have recovered in recent months after signs of improvement and a rise in half-year profits.
Its last full-year dividend for the year to the end of March 2014 was flat at 17p. The interim dividend announced in November was up 0.2p to 6.4p per share. Annual profits have fallen three years in a row. A fourth quarter trading update gulskogen is due on April 2 and final results on May 20.
At last year s annual general meeting, one disgruntled shareholder told Bolland: You are a bread and butter and baked beans expert. That s your forte. Clothing is not. Another said: This must be the slowest turnaround of a ship in history.
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