Nigel Wilson says companies should not pay out cash to shareholders at expense of long-term investment,echoing view of Bank of England’s top economistThe boss of Legal & General has backed a call by the Bank of England’s chief economist for companies to invest for the long term instead of paying out cash to feed the short-term demands of shareholders in the City.
Nigel Wilson, the chief executive of one of the biggest investors in the UK stock market, and said his investment management arm would take a tough line with bosses who build a higher priority on payouts to shareholders than ensuring the future health of their companies. Related: Shareholders receive too much money from trade – Bank's chief economist Continue reading...
Source: theguardian.com