I keep a rough tab of salary/fees paid to top managers and the board for about 20 listed equities. Of them all, AEF has the highest ratio of such payments. Where the issue of shares/performance rights are involved, shareholder dilution is large and ongoing.
A slight moderation in these fees would see the annual profit increase over 30%. Interestingly, few of the board members have any shares in the company.
AEF Price at posting:
$58.50 Sentiment: Hold Disclosure: Held
