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https://www.thisismoney.co.uk/money/markets/article-12337647/Games-Workshop-accidentally-paid-dividend-worth-millions.html

The owner of Warhammer battle figurines admitted yesterday that it accidentally paid investors millions in illegal dividends. Games Workshop said that due to a 'minor technical breach' a 45p per share dividend was paid out last November before it filed its half-year accounts with Companies House.

That meant the payment amounted to an 'unlawful dividend'.

While the mishap meant the firm could serve legal claims against its shareholders and directors, it said it would not do so and would table a resolution at its AGM in September to remedy the issue.

This sound more sensational than it probably is.

Probably something stupid like they told an accountant to pay out dividends on 11/12 and they did it on 12/11

Yeah, this looks like a procedural error more than anything else. Most likely they had the half-year accounts verified and signed off, but there was a miscommunication between the people responsible for filing the accounts and those responsible for paying out the dividends.

Millions hey?

Would hate to be the person who clicked that button.

There’s mention of this in the annual report. Described as a “technical failure to file interim accounts proving we had sufficient reserves (which we did) prior to paying one of the dividend payments in November 2022”

There may be more about it elsewhere in the same document, but I for one cannot be arsed to go looking.

 lord_blackfang wrote:
This sound more sensational than it probably is.

Probably something stupid like they told an accountant to pay out dividends on 11/12 and they did it on 12/11

Yeah, it's a question of 'Oh no, we pushed button B before we pushed button A, technically that's illegal' even if the material conditions of the whole thing were fine. That's just stuff that happens sometime, ideally it should not and it probably triggers all sort of internal things like people having to do refresher courses about compliance and standards, but ultimately it's no big deal because the thing they signed off was going to happen anyway, just a few days later.

The strangest things happen with bean counters behind the scenes

A friend's pay was almost two weeks late one time this year because the company accountant was on sick leave and their replacement decided to conceal that they don't know how to do it and hope nobody notices they didn't get paid

Time the raise the prices, hey?

 H.B.M.C. wrote:
Time the raise the prices, hey?

Well, they definitely have to invest in a system where two guys turn keys simultaneously to unlock the Pay Dividends button if they want to avoid future mishaps. Somebody's got to pay for that.

Love the hobby and accounting? Have we got a position for you. You will get to work with balance sheets and Baal predator tanks. And a generous discount program to go with a generous salary of minimum wage per annum. Apply now.

Must live within 10 minutes walking distance of Nottingham

 privateer4hire wrote:
Love the hobby and accounting? Have we got a position for you. You will get to work with balance sheets and Baal predator tanks. And a generous discount program to go with a generous salary of minimum wage per annum. Apply now.

Must live within 10 minutes walking distance of Nottingham

Don't worry, because GW hires for attitude rather than competence this will obviously never happen again.

 privateer4hire wrote:
Love the hobby and accounting? Have we got a position for you. You will get to work with balance sheets and Baal predator tanks. And a generous discount program to go with a generous salary of minimum wage per annum. Apply now.

Must live within 10 minutes walking distance of Nottingham

Only the best people!

 ThePaintingOwl wrote:

 privateer4hire wrote:
Love the hobby and accounting? Have we got a position for you. You will get to work with balance sheets and Baal predator tanks. And a generous discount program to go with a generous salary of minimum wage per annum. Apply now.

Must live within 10 minutes walking distance of Nottingham

Don't worry, because GW hires for attitude rather than competence this will obviously never happen again.

I made it to the final round of interviews for a GW store. I'm mid 30s with 15 years experience in commission sales and management. I've been playing since 1999 and know pretty much every game system. They hired a 20 year old kid who has never had a job before. A previous GW store hired a car salesman with zero experience in the hobby over a bunch of qualified guys who were lifetime GW fans. The car salesman lasted like 3 months before foot traffic at the store went to absolute zero. This guy was making up scenarios for game days at the store except he had no idea how the game worked so the wrenches he threw in usually just ruined the game for one side or the other.