Dividend paid to shareholders in the most recent financials (to Jan 4th 2014) £28.3million. From a profit of £30.1m. Not sure where your extra £8m is coming from. Leaving out tax and looking at 2013's figures perhaps. Same charge can be levelled at you for using figures that suit your point of view.
Factor in the pension fund contributions and deferred tax and the profit is down to £27.2m
Don't want the business giving the best possible return to investors, something they are legally required to do? Campaign for nationalisation then. Investors also make the TOC money.
Staff cost in that period to Jan 4th 2014 were £215.2m. 3361 operational staff, 893 Engineering and Maintenance and 748 Administration and Support. Director remuneration does not come from Northern Rail Holdings Ltd. They are paid through either Abellio Transport Holdings Ltd, Abellio Transport Holdings BV, or Serco Ltd. Complaints about what the directors are paid in this thread are therefore somewhat misplaced. Their remuneration has no effect on Northern Rail's balance sheet.
1,414 of those staff are drivers. Let's say an average driver wage of £40,000 taking account of the difference between East and West, and the handful of Trainee and Depot/Shunting drivers that earn less. That would make the driver salary bill £56.6m. A necessary cost but, for comparison, twice that of the dividends paid in the 52 weeks to Jan 4th 2014. A 2.7% increase takes that annual driver salary bill up by £1.5m. That doesn't seem too bad, but the drivers of course want more.
Drivers salaries make up 9.25% of the operating expenditure of Northern Rail.
Sorry I was talking about figures to January 2013 when the franchise made £38.5 million , and paid £34 mil in dividends to the shareholder . Not really picking them to suit me because wether the dividends are £34 million or £24million your argument is still pointless about drivers being the ones wanting to line their pockets at the expense of the public .
I dont actually have a problem with directors of various ilk earning more than drivers because to attract and retain people you have to pay them good money . I however dont think that their massive raises should happen in a vacuum .
your £56.6 mil driver bill figure being more than what the dividends are is a pointless fact . Because that £56.6mil pays 1400 drivers wheras the £24million divident goes to how many shareholders ?
Ok here is another for you anyway , they want more than the 2.7% offered , but you think the strike is unreasonable .
What would you say to the drivers leaving the franchise in numbers , and those that are planning on leaving next time other operators advertise . Aslef also wants an agreement reached on driver retention because this is something they see as a problem that could face the franchise in the not so distant future .
If 82% of drivers are prepared to go on strike for a decent raise . How many are also annoyed about the various issues being channeled through this ballot and are looking for ways out of the franchise . And do you not think this is going to have a big effect on the public ? .
Financially what is more cost effective . Paying £2million in increased wages .
Or paying out the money for training lots more drivers , and paying for the disruption caused by shortages ? .