How some execs are making money off assets they don’t even own

Vornado Realty Trust’s Steven Roth is not just one of New York’s top commercial landlords. He is also one of its top collectors of dividends from shares he does not own. Vornado made $463,000 worth of such payments to Roth last year, which equals almost half of his salary, according to Crain’s. Other executives who received money from dividends include AllianceBernstein CEO Seth Bernstein and Philip Morris International CEO André Calantzopoulos. Crain’s identified nine companies […]

from The Real Deal New York http://bit.ly/2V8Xxbm

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