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Tuesday, October 6, 2015

Investing in coal was once motivated by a desire to generate wealth

A look backwards through the Whitehaven Coal Annual Report of September 2015

A Year of Delivery - Whitehaven Coal Annual Report 2015 / page 79

DIVIDENDS

Paid During the Year
During the year the Company did not pay any dividends.
Declared After End of Year
Directors have resolved not to declare a dividend in respect of the 2015 financial year.

A Year of Delivery - Whitehaven Coal Annual Report 2015 / page 4

KEY ECONOMIC CONTRIBUTION

We contribute to the social and economic development of the communities in which we operate. The Company’s economic contribution was $470.1m in 2015. This includes:
  • $125.6m in payments including wages and superannuation to employees
  • $214.9m in payments to suppliers in the Gunnedah, Narrabri, Tamworth and Liverpool Plains shires
  • $129.6m in taxes and royalties to governments

A Year of Delivery - Whitehaven Coal Annual Report 2015 / page 2

FINANCIAL

Net loss after tax $342.7m


Investing in coal is now the way to make charitable "key economic contributions".

In 2015 shareholders very generously chipped in a lazy $342.7m towards the $470.1m Whitehaven Coal paid for "key economic contributions".
Whitehaven Coal Annual Report 2015 - Financial
Whitehaven Coal Annual Report 2015 - Financial

1 comments:

LK said...

Great article, thanks Ask.
Man what the fuck do Whitehaven think they're up to?