Thursday, June 8, 2017

BREAKING: Arizona Diamondbacks Pay Dividends To Investors In 2016; 1st Time In Years

The Arizona Diamondbacks ownership was able to distribute dividends to its investors in the 4.7%-9.3% range in 2016. This appears to be the first such distribution in several years.

Arizona Senator John McCain (R-AZ) is a longtime minority owner of the Diamondbacks*. More accurately, his wife Cindy owns the share; however, Senator McCain must list that interest in his annual personal financial disclosure. His new financial disclosure statement not only showed that the McCain's still own there share, but also that owners received a hefty dividend from the D'backs in '16 - the 1st time in years.

Ms. McCain's interest is listed as being worth between $500,001 and $1,000,000. It also lists a "distributive share of ordinary income" of $46,564. That calculates to the 4.7-9.3% range for the dividend.  McCain's previous financial disclosure statements (filed 2013-2016) reflect zero (less than $200) in distributions.

Forbes reported that the Diamondbacks took in $223M in revenue in 2015 and that the value of the team is now approximately $925M. 

In a related note, Arizona's Politics is simultaneously publishing an update on the Diamondbacks' efforts to convince the court to cancel the rest of its long-term lease with Maricopa County to play at Chase Ballpark.

(Article updated at 6:30pm to add the revenue and value reported by Forbes.)

*This research and article was prompted by Sen. McCain half-jokingly blaming his apparent confusion at today's hearing with former FBI Director James Comey on watching a marathon D'backs game last night.

We welcome your comments about this post. Or, if you have something unrelated on your mind, please e-mail to info-at-arizonaspolitics-dot-com or call 602-799-7025. Thanks.

No comments: