Duo from The White Company earn £20 million, despite a decline in profits
On-Point Gossip:The White Company Forks Over a £20 Million Dividend to a Company Controlled by its Boss, Chrissie Rucker, and Her Husband, Nick Wheeler, Despite Lower Profits
Never say die, right? The upscale homeware retailer called The White Company just paid a hefty £20 million dividend to a company named Bectin, despite an annual drop in profits. Talk about rolling in dough!
The increasing dividend for this high-end retailer amounts to a £5 million boost from last year, according to financial reports for the fiscal year ending August 2024. But profits after taxes nosedived from a whopping £25.7 million to a measly £14.8 million. But hey, who needs profits when you've got dividends, right?
Funny side note: Chrissie Rucker, 56, who happens to head The White Company, and her husband Nick Wheeler, 60, who's the brains behind the classy shirt-maker Charles Tyrwhitt, jointly own Bectin. Talk about a power couple!
Logistics were a headache for The White Company last year, following the establishment of a distribution center. However, those problems have supposedly cleared up, as they managed to nab former John Lewis boss Paula Nickolds to steer the ship. With 74 stores under their belt, they racked up £302 million in sales, a slight bump up from £289 million the previous year.
RELATED ARTICLES
- Previous
- Current Article
- Next
- Founder of The White Company and her husband cash in on record dividends despite...
- Profits at The White Company double during pandemic despite facing delays in product shipping
Share this article
HOW THIS IS MONEY CAN HELP
- Choosing the top stocks and shares Isa and the best DIY investing account
DIY INVESTING PLATFORMS
- AJ Bell
- Hargreaves Lansdown
- interactive investor
- InvestEngine
- Trading 212
Affiliate links: If you take out a product This is Money may earn a commission. These deals are chosen by our editorial team, as we think they are worth highlighting. This does not affect our editorial independence.
Compare the best investing account for you
(New query: Verify the exact company name involving Chrissie Rucker and Nick Wheeler before making overwhelming claims about their dividend distributions.)
- Despite a decline in profits, The White Company, led by Chrissie Rucker and her husband Nick Wheeler, distributed a £20 million dividend to their company, Bectin.
- The dividend, a £5 million increase from the previous year, was revealed in financial reports for the fiscal year ending August 2024.
- Rucker, the founder of The White Company, and Wheeler, the founder of Charles Tyrwhitt, jointly own Bectin, showcasing their business collaboration.
- Leading up to the distribution, the retailer grappled with logistical issues following the establishment of a new distribution center, but they managed to secure former John Lewis boss Paula Nickolds to help navigate the challenges.
- With 74 stores under their belt and £302 million in sales, the personal-finance community may find it interesting to explore investing in The White Company's stocks through a reliable DIY investing platform like AJ Bell, Hargreaves Lansdown, interactive investor, InvestEngine, or Trading 212.
