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STAGECOACH BOSS TO COLLECT£5M

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The pressure group Save our Railways has reacted angrily to news that Brian Souter, the founder and chairman of Sta...
The pressure group Save our Railways has reacted angrily to news that Brian Souter, the founder and chairman of Stagecoach, is to pick up a£5.2m cash windfall, through the company's highest dividend payment.

The Times (p25) reports that the dividends come after a year in which Stagecoach's profits jumped 35% to£210m. But Jonathan Bray, SoR's campaign manager, said: 'This is no normal capitalist system because Stagecoach is guaranteed taxpayers' money. This should not find its way into Brian Souter's back pocket.

However, Alan Greengross, head of the London Regional Passengers Committee, said: 'Mr Souter is doing is exactly what the last government told him to - run railways and make money. The system is flawed, but you can't really attack him for using it.'
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