Q: Happily I do not hold either BNS or TD.
What I find very shareholder unfriendly is the bank setting aside $2 billion and $4 billion respectively for emplyee bonuses.
That is billion.
YTD BNS stock is down 8% and TD stock is down 6%.
Not sure why shareholders accept this type of expenditure.
If my math is right thats a $44,444 bonus for every one of TD's 90k employees and a $22,222 bonus for everyone of BNS worldwide employees.
Pretty excessive if you ask me, given their stock performance.
Sheldon
What I find very shareholder unfriendly is the bank setting aside $2 billion and $4 billion respectively for emplyee bonuses.
That is billion.
YTD BNS stock is down 8% and TD stock is down 6%.
Not sure why shareholders accept this type of expenditure.
If my math is right thats a $44,444 bonus for every one of TD's 90k employees and a $22,222 bonus for everyone of BNS worldwide employees.
Pretty excessive if you ask me, given their stock performance.
Sheldon
5i Research Answer:
Keep in mind that the Board sets up a compensation commitee, and that shareholders vote for the board. But certainly the optics are not good here and shareholder anger is understandable.