The American personal fairness agency Bain Capital is in line for a dividend fee worth virtually £15 million from a automobile components maker it controls regardless of the corporate furloughing employees and agreeing pay cuts with different staff.
TI Fluid Programs introduced yesterday that it deliberate to press forward with a £27 million, or 5.2p-a-share, dividend fee to its shareholders this month despite the fact that it has been caught within the turmoil attributable to the Covid-19 disaster.
A Bain-backed car controls 54.three per cent of TI Fluid Programs. This stake places the car in line for an estimated £14.7 million share of the payout.
A spokesman for the personal fairness agency informed The Instances final evening that it “won’t be taking any dividend from the corporate