Submitted on Thursday 18th August 2016
Published on Thursday 18th August 2016
Current status: Closed
Closed: Saturday 18th February 2017
Signatures: 41
Restrict Rail Franchise Owners paying excessive dividends when performance fails
Some Train Operating Companies have fallen far short of their Public Performance Measures (PPM).
Simultaneously Franchise Owners - such as the Go Ahead Group - continue to pay material dividends that offer investors an attractive yield (e.g. 4-5%) which is 10 to 20 times the typical savings rate.
The PPM of the GoVia Thameslink Group (Southern, GEX and TL) is around 70% in 2016 so far - against the target for of around 86%. One in 3 trains is late.
The service that funds their dividends has failed to meet acceptable standards, and annual fare increases continue to be applied which contribute to that dividend.
This petition seeks to apply legislation that forces Franchise Owners to limit dividend distribution when PPM and other measures fall materially, and serially, short of target.
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3.138.175.10 Fri, 22 Nov 2024 01:13:35 +0000
