CEOs lose millions as dividends are slashed
Some Queensland rich listers are a little poorer this year with dividends slashed to zero while for others, the bonanza continues.
Dividends, the half-yearly payment to a company's shareholders, have been all but wiped out due to the financial losses inflicted by COVID-19.
Just 70 per cent of the 168 companies which have reported full or interim results have issued dividends.
CommSec Chief Economist Craig James said the 20-year average was 86 per cent.
Flight Centre founder Graham "Skroo" Turner, who last year got a $14.93m bump to his bank balance from the travel agency's final 98c dividend payout will this year get zip.
It has been a horrendous year for Turner, one of the state's most successful businessman, with Flight Centre slumping to a $853 million loss and scraping its final dividend amid an uncertain outlook for the global tourism industry.
Another Brisbane-based travel entrepreneur Jamie Pherous, the major shareholder in Corporate Travel Management, is also looking at a leaner Christmas after COVID-19 related travel bans sent his company to a $10.6m loss.
Last year Pherous collected $4.5m as the company paid a final dividend of 22c a share.
Mr Pherous holds 21,266,893 shares in Corporate Travel Management, according to the company's annual report.
In March it announced the deferral of its dividend of 18c per share until October 2 before deciding to cancel it on August 19 - robbing Mr Pherous of a $3.8m windfall.
Pizza maker and delivery giant Domino's announced 52.6c dividend on August 19 to be paid on sept 10
Pizza maker and delivery giant Domino's announced a 52.6c dividend to be paid on September 10.
Domino's CEO Don Meij will pocket $945,000 from his 1.8m shares in the chain - slightly lower than last year's $950,000 payday.
However, the cash boost pales in comparison to that netted by Domino's chairman Jack Cowin, whose 23m shares will net him a whopping $12m.
The value of Mr Cowin's shareholding in the global pizza giant totals about $1.8bn.
New Bank of Queensland boss George Frazis will secure about $33,595 when the bank pays its 67c dividend in November.
Mr Frazis holds 50,000 shares in BOQ via Emery Capital Pty Ltd as trustee for the Corundum Fund, according to the last ASX notification in December.
AP Eagers CEO Martin Ward was another high-flying businessman to miss out on a dividend payday.
His car group, which dealt with the end of Holden in addition to COVID-19, won't pay a first-half dividend.
Last year Mr Ward secured $334,000 in dividends.
Vita Group chief executive Maxine Horne's windfall has almost halved with her 29.5 million shares in the phone shop and beauty clinic operator delivering a $708,000 payout after the company declared a reduced 2.4 cents per share dividend in compared to past year's 4c.
Queensland's largest company, Suncorp, announced payment of a 10c dividend.
The payment will boost the coffers of new CEO Steve Johnston, who stands to gain about $13,273 from his 131,273 ordinary shares in the insurance and banking giant.
Super Retail Group, which owns the Rebel, BCF, Supercheap Auto and Macpac brands, will deliver a slightly lower payday to its directors this year.
Company director, Supercheap Auto founder Reg Rowe, will net about $12.84m from his 65.8m shares in the group.
Mr Rowe's windfall is down on the $17m he pocketed last year.
Super Retail Group CEO Anthony Heraghty will receive about $11,645 from his shareholding, with the group to pay a 19.5c dividend on October 2.