WWE recently paid dividends to its investors. Those could have been used to pay the salaries of the recently released talents. 38 WWE employees were recently fired. Bleeding Cool is the one that made this report after WWE’s recent SEC filing.
WWE had to release a huge number of their talents recently due to the coronavirus pandemic. Rusev and WWE Hall of Famer Kurt Angle were amongst the group that was let go recently and they are actually quite famous. According to a call with company talent, Vince McMahon wants to change how WWE functions during the pandemic and that is why he had to get these changes made.
WWE will be saving about $703,000 a month after these changes. They will save $4 million from all the business changes that they have recently made. They have also cancelled the relocation of their headquarters. A short press release revealed, "Board of Directors today declared the Company's regular quarterly dividend of $0.12 per share for all Class A and B shares of common stock."
According to a recent filing, 43,739,412 shares of Class A common stock and 34,303,438 shares of Class B common stock are still outstanding. It is close to around 78 million shares. That means that almost $9.4 million will be paid to investors this summer.
Vince will make $3.5 million by that time. Vince McMahon also filed for Chapter 11 bankruptcy for his XFL American Football League on Monday. The XFL has to cancel its first season plans after the coronavirus hit. In other words, WWE is in trouble but Vince McMahon appears to be handling things well.
He even made the brave decision of letting WrestleMania 36 happen in an empty arena. The event was largely well-received by fans.