The US phone and telecommunications giant, AT&T carries debt.

https://investors.att.com/financial-reports/debt/debt-information

TOTAL DEBT: $130,603,734,134

That is $130Bn dollars.

Now, the stock info is interesting:-

https://investors.att.com/stock-information/stock-quote-and-chart

Market Capitalisation (value of the company) $147.53 Billion

So interesting to see, the debt burden on AT&T’s shoulders, $130bn

https://investors.att.com/~/media/Files/A/ATT-IR-V2/financial-reports/annual-reports/2023/2023-complete-annual-report.pdf

The annual reports that:

Cash Provided by or Used in Financing Activities from Continuing Operations
In 2023, cash used in financing activities totaled $15,614 Million and was comprised of debt issuances and repayments, payments of
dividends, issuances and repurchase of preferred interests in subsidiaries and vendor financing payments….

Yes that is $15.614 billion used as interest payments, dividends and other financings costs….

These are huge numbers.

The UK Office of National Statistics, has some sobering numbers:-

https://www.ons.gov.uk/economy/governmentpublicsectorandtaxes/publicspending/bulletins/ukgovernmentdebtanddeficitforeurostatmaast/december2023

UK general government gross debt was £2,720.8 billion at the end of Quarter 4 (Oct to Dec) 2023, equivalent to 101.3% of gross domestic product (GDP). UK general government gross debt is mainly made up of medium and long-term bonds (Gilts), issued by HM Treasury.

Courtesy of the UK Office for National Statistics

The £2720.8 Billion is made up of Bills & Short Term loads, Loans, Currency & Deposits and then the bulk is Medium and Long Term Bonds (Gilts)

in 2023-24, the UK Government paid out £104.7 Billion in Interest Payments on the national debt. Money that is simply paid to the UK Government lenders (creditors), cash that can not be used for public services such as Schools, Universities, Armed Forces, Police, Fire Service, The National Health Service, it is pure financing costs.

Courtesy of HM Treasury & The Office of Budget Responsibility.

In 2024-25 UK Government is forecast to pay out £89 Billion in interest payments to the lenders to the UK Government debt. This is purely the interest on the £2000 Billion of national debt, again cash that can not be used for public services such as Schools, Universities, Armed Forces, Police, Fire Service, The National Health Service, it is pure financing costs.

Courtesy of HM Treasury & The Office of Budget Responsibility.

Today, Mon 23rd Sept, Shell, the Anglo-Dutch Oil Major, pays out its quarterly dividend

https://www.bp.com

Shell announced that the interim dividend for the second quarter of 2024 would be $0.344 per ordinary share

$0.344 (26.15p)

https://www.londonstockexchange.com/news-article/SHEL/voting-rights-and-capital/16643376

Shell plc’s capital as at August 30, 2024, consists of 6,261,518,191 ordinary shares of €0.07 each. Shell plc holds no shares in Treasury.

Thus:-

6,261,518,191 x £0.2615= £1,637,387,006.9465

That is £1637 million paid to shareholders

https://www.londonstockexchange.com/stock/SHEL/shell-plc/company-page

Tomorrow, Friday 20th Sept, BP the UK Oil Major, pays out its quarterly dividend

https://www.bp.com

BP p.l.c. announced that the interim dividend for the second quarter of 2024 would be US$0.08 per ordinary share

That is 6.0498 pence per share

https://www.londonstockexchange.com/news-article/BP./total-voting-rights/16645446

The total number of voting rights in BP p.l.c. is 16,388,509,553

Thus:-

16,388,509,553 x £0.060498 = £991,472,050.937394

That is £991 million paid to shareholders

https://www.londonstockexchange.com/stock/BP./bp-plc/company-page

Another month, guess what, take a lucky guess, it is the same old story, HM Government, spends more money than it receives via taxes and duties. Now we are in a post Covid 19 world. UK’s HM Government needs to fund many new demands. https://www.dmo.gov.uk

Another deficit month, thus to bridge the gap, needs to borrow on the bond market in August 2024, the HM Government had to borrow money to meet the difference between tax revenues and public sector expenditure. The term for this is the PSNCR: The Public Sector Net Cash Requirement. There were “only” 5 auctions of Gilts (UK Government Bonds) by the UK Debt Management Office to raise cash for HM Treasury:-

28-Aug-2024 0¾% Index-linked Treasury Gilt 2033 3 months 1,547.3750 Million
21-Aug-2024 3¾% Treasury Gilt 2027 4,000.9820 Million
13-Aug-2024 3¾% Treasury Gilt 2038 3,749.9970 Million
07-Aug-2024 4 1/8% Treasury Gilt 2029 4,020.2500 Million
06-Aug-2024 4¾% Treasury Gilt 2043 2,499.9990 Million

£1,547.3750 Million + £4,000.9820 Million + £3,749.9970 Million + £4,020.2500 Million + £2,499.9990 Million = £15,818.603 Million

£15,818.603 Million = £15.818603 Billion

On another way of looking at it, is in the 31 days in August 2024, HM Government borrowed:- £510.27751612903225806451612903226 Million each day for the 31 days.

We are fortunate, while the global banking and financial markets still has the confidence in HM Government to buy the Gilts (Lend money to the UK), the budget deficit keeps rising. What is also alarming, is the dates these bonds maturing from 2027 to 2043. All long-term borrowings, we are mortgaging our futures, but at least “We Are In It Together……“

On Wed 11th Sept, this week, the UK’s premier telecommunications group, British Telecommunications PLC will pay out its September 2024 dividend.

https://www.bt.com

5.69p a share

https://www.londonstockexchange.com/news-article/BT.A/total-voting-rights/16643066

The total number of voting rights in BT Group plc on the 30th August 2024 was 9,954,313,741, thus:-

9,954,313,741 x £0.0569 = £566,400,451.8629

That is £566 million paid to shareholders in BT Group PLC.

https://www.londonstockexchange.com/stock/BT.A/bt-group-plc/company-page

The objective of the Fund is to track the performance of high dividend yielding equities from the Asia Pacific region.

https://www.ssga.com/uk/en_gb/institutional/etfs/spdr-sp-pan-asia-dividend-aristocrats-ucits-etf-dist-zpra-gy

Top ETF holdings as of 31 July 2024

1 PETROCHINA CO LTD ORD 6.36% of the fund
2 CHINA MERCHANTS BANK CO LTD ORD 4.46% of the fund
3 PING AN INSURANCE GROUP CO OF CHINA LTD ORD 4.40% of the fund
4 CK INFRASTRUCTURE HOLDINGS LTD ORD 3.53% of the fund
5 HONG KONG AND CHINA GAS CO LTD ORD 3.38% of the fund
6 CHINA RESOURCES LAND LTD ORD 3.28% of the fund
7 BOSIDENG INTERNATIONAL HOLDINGS LTD ORD 3.16% of the fund
8 APA GROUP 3.02% of the fund
9 SWIRE PROPERTIES LTD ORD 2.79% of the fund
10 ENN ENERGY HOLDINGS LTD ORD 2.76% of the fund

https://www.londonstockexchange.com/stock/PADV/street-global-advisors/company-page

The SL abrdn Sustainable Index World Equity Pension Fund id a £2667m fund.

Its investment strategy is to generate growth over the long term (5 years or more) by tracking the return of the MSCI World Select ESG Climate Solutions Target Index

Top Holdings of the fund (%)
MICROSOFT CORP 5.5% of the fund
NVIDIA CORP 5.3% of the fund
APPLE INC 4.2% of the fund
ALPHABET INC 2.8% of the fund
AMAZON.COM INC 2.5% of the fund
ELI LILLY & CO 1.3% of the fund
COCA-COLA CO/THE 1.2% of the fund
META PLATFORMS INC 1.0% of the fund
TRANE TECHNOLOGIES PLC 1.0% of the fund
NOVO NORDISK A/S 0.9% of the fund

Total 25.7% of the fund

Courtesy of Standard Life

The JPM Natural Resources Fund is a fund that invests primarily in the shares of, companies throughout the world engaged in the production and marketing of commodities. The Fund aims to provide capital growth over the long term.

Underlying Fund Launch Date 01/06/1965
Underlying Fund Size (28/03/2024) £901.9m

Top Ten Holdings:-

EXXON MOBIL 8.7% of the fund
RIO TINTO 7.1% of the fund
SHELL 6.0% of the fund
FREEPORT-MCMORAN 5.6% of the fund
BHP 5.3% of the fund
TOTALENERGIES 4.7% of the fund
EOG RESOURCES 3.2% of the fund
MARATHON PETROLEUM 3.0% of the fund
CANADIAN NATURAL RESOURCES 2.8% of the fund
VALERO ENERGY 2.6% of the fund

Total 49.0% of the fund

Courtesy of Standard Life

Courtesy of Standard Life

Asad & Ayana at The Institute of Technology, Savoy Place, London (youtube.com)