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Myriam Robin

Geoff Harris sold $9.2m worth of Flight Centre

Myriam RobinSenior Writer

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Asked to comment last week on the relatively slim $10 million he'd sent Flight Centre's way in its recent $700 million capital raise, Geoff Harris was the only one of its three founders to demur.

As we'd previously remarked, this was after a year in which he'd been paid $36.5 million in dividends from his 14.1 per cent stake in the company, bringing his total since FY10 to $182 million. Taking similar amounts in dividends were the other two founders, Graham "Skroo" Turner and Bill James. The paltry $25 million contributed by all three to the capital-raise resulted in their dilution from 42.2 per cent to 26.6 per cent of the register.

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Myriam Robin is a senior writer based in the Melbourne newsroom. She has previously been a Rear Window columnist and editor, and before that reported on financial markets and media. Connect with Myriam on Twitter. Email Myriam at myriam.robin@afr.com

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    Original URL: https://www.afr.com/link/follow-20180101-p54li3