Unlike the worker, the shareholder decides how much he is going to pay himself, This distinction is one which all trade unionists should note in the discussions around an incomes policy. An example, in this period of economic gloom, is that of Jute Industries. This firm which is mainly based on the Dundee are&has been notorious for its low wages: this year its shareholders will get a £52,000 tax-free handout. Its total dividend is going up by 34 to 16%. In addition it is proposed to pay a tax-free capital distribution of 3%, and to make a one-for-two scrip issue (each Ordinary shareholder will get one extra share for each two he now holds). No crisis of the £ here!!
The WeekThe Week Vol. 2, No. 23, 31 December 1964
Jute Industries! "good year."
The scan: The Week v2 no23-24.pdf (PDF, Marxists Internet Archive, opens at this page)
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