While companies including Super Retail Group, Toyota Australia, Domino’s and miner Iluka have promised to return jobkeeper money to the government, others including Gerry Harvey’s Harvey Norman and Solomon Lew’s Premier Investments have decided to keep the cash.
Almost the entire sharemarket has rebounded strongly over the past year after tumbling by 30% in March as coronavirus panic gripped traders.
However, some companies that received jobkeeper have massively outperformed the broader market, with Harvey Norman investors receiving a return of 112.7%, including dividends, since March last year and those who put money into Premier getting 117.8% over the same period.