This morning I attended the annual general meeting of a well known drinks manufacturer. Profits are up; the dividend has been raised again, so all in all they have had a good year. AGMs are often fairly routine affairs, unless you happen to be a bank, where they have recently been quite lively. I usually like to have a question up my sleeve, just to keep the directors on their toes. This time I asked about the directors’ long term incentive plan. Most public companies are very generous to their board, often paying them eye watering salaries and bonuses. In small act of rebellion, I also voted against the director’s remuneration policy.
At the end of the meeting the chairman asked me if I was happy with the response I got, which I assured him I was. I was also offered a sample of one or two of the products, an offer I took up, because my mum loves their mango juice. It comes all the way from India.
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