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.