Why Manchester United have paid out £33.6m in dividends to shareholders

It has been confirmed that Manchester United paid £33.6million out in dividends, mostly to the Glazer family, in the financial year up to June 30, 2022, up by more than £20million on the previous year.

The higher dividend payments in 2022, compared with those handed out in 2021, are because of the timing of payments. One semi-annual payment was deferred due to the Covid-19 pandemic, resulting in three payments being made in the 2022 financial year, as opposed to just one a year earlier.

The dividend payment in 2021 was around £10million, highlighting the sheer size of the increase, despite the club posting a net loss of £115.5million in the last financial year. The figures released have also shown that United have the largest annual wage bill in the Premier League, amounting to £384million.

READ MORE: Richard Arnold conference call LIVE

United paid out £23.3million in dividends in the year ending June 30, 2019, the last 12-month period that wasn't affected by the Covid-19 pandemic. The club have now paid out £132million in dividends since they began paying them in 2015.

United, however, have made a financial recovery in the last year after the outbreak of the Covid-19 pandemic in 2020. They were required to play in empty stadiums during the 2020/21 campaign, resulting in matchday revenue and other revenue sources taking unprecedented hits. However, supporters have been allowed to attend matches since the start of last season, meaning matchday revenue has increased.

Figures released have shown that United, for the 2023 financial year, expect total revenues to be in a range of £580million to £600million and adjusted EBITDA to be in a range of £100million to £110million.

Cliff Baty, chief financial officer, said: "Our