In a recent communication to CWU members, Royal Mail Property & Facilities Solutions Limited (RMP&FSL) management referred to Royal Mail Groups’ (RMG) wider financial position and suggested that this would need to be considered in relation to our dispute on Pay and Associated issues. So here is a summary of RMG financials: £758 million profits for the year 2021/2022. And what did RMG do with those profits? • Shareholders would receive a standard dividend of 6.7 pence per share. This cost around £80 million • RMG also announced shareholders would also receive a special dividend costing £200 million • RMG announced that shareholders would further benefit by a share buyback scheme that would cost £200 million In July 2022 at the Annual General Meeting, RMG proposed and had carried a proposition that: Shareholders would receive a further dividend of 13.3 pence per share, costing around £160 million. A total of £640 million given away to shareholders. The RMG Board also found money to enrich themselves to the tune of £2 million in bonuses. The numbers that really matters now are the number of YES votes in the ballot.
The CWU makes no apologies for wanting better for you. Ballot closes on the 27th of September.
