GLOSSARY

Total shareholder return

IN PLAIN ENGLISH

Share price change plus dividends paid — the full return to a shareholder over a period.

WHERE YOU MEET IT

Used in annual reports to compare a company's performance with its peers.

WATCH OUT FOR

Compare companies on total shareholder return, not on yield or price alone.

EXPLAINED IN

Buybacks: the other way of returning cash

Educational content only. It is not personal financial advice.