Cash out.
Every year.
Regardless.
The red bars are dividend payments to the Glazer family, 2012–13 to 2021–22. The line is where United finished that season. In every one of these ten seasons, a dividend was paid. Payments were suspended in 2022–23 during the sale process.
In the ten seasons shown, a dividend was paid in every single year — including six in which United finished outside the top four. The payment was not contingent on performance. In 2018–19, United finished sixth and paid out £22m. In 2021–22, they finished sixth again and paid £33.6m — the highest single-year dividend on record, including an £11m payment deferred from the previous season. Dividends were suspended in 2022–23 as the Glazers entered sale negotiations, and no further payments were made under the terms of Ratcliffe's partial acquisition. Swiss Ramble confirmed total dividends since 2016 reached £166m by 2022, averaging £22m per year.
Methodology note. Dividend figures are drawn from Manchester United plc SEC Form 20-F annual filings and UK Companies House accounts. Figures represent total dividends declared to Class A and Class B shareholders in the relevant financial year. League finishing positions are from Premier League official records. The financial year ends 30 June; dividends are attributed to the season concluding in that calendar year.