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David and Victoria Beckham pay themselves £21m in dividends over two years | Business News

By newadmin / Published on Friday, 22 Jan 2021 13:33 PM / No Comments / 27 views


David and Victoria Beckham have paid themselves £21m in dividends from their businesses over the last two years.

The accounts filed with Companies House showed that a £14.5m dividend was paid to the famous couple in 2019, up from £11.1m in 2018, with a further £7.1m in 2020.

The most recent amount went to the Beckhams after they bought the 33% stake in David Beckham Ventures Limited that had been owned by XIX Entertainment – a media group run by music mogul Simon Fuller.

Motor enthusiast David Beckham has a substantial fleet of cars in the UK and LA
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The ex-footballer’s global brand rights are managed by David Beckham Ventures Limited

Pre-tax profits at the company, which manages the former footballer’s global brand rights, dropped to £11.3m in 2019, from £14.8m the year before.

The decline was due to charitable donations made to UNICEF, currency fluctuations, and increasing staff numbers.

Mrs Beckham’s fashion business, meanwhile, saw pre-tax losses grow from £12.5m in 2018 to £16.6m in 2019.

Victoria Beckham Holdings Limited, which is owned by Beckham Brand Holdings, XIX Entertainment and private equity firm NEO investment Partners, launched a cost-cutting programme last September.

Also last year, the group said it had breached the financial covenants of a loan with HSBC, which led to shareholders injecting £9.2m to settle the debt.

Sales at the fashion label increased £2.5m to £38.3m in 2019, but it continued to lose money and did not pay a dividend.

Fashion designer, model and singer Victoria Beckham poses on the red carpet as she arrives for the opening ceremony and the screening of the film "Cafe Society" out of competition during the 69th Cannes Film Festival in Cannes
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Victoria Beckham owns her own fashion label

The accounts said: “Directors continue to focus on taking the company to break even.

“Since the year end, the COVID-19 pandemic has impacted trading, with stores carrying the company’s products subject to varying lockdown restrictions.

“This led to a substantial closure of the group’s stores during 2020 (late March to end May, November, late December onwards) and a resulting impact on revenues.

“Over this period the company’s ecommerce operations saw positive year-on-year growth.”

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