Windfall for bus supremo

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The boss and founder of transport group Stagecoach, which runs bus services in Sheffield, is in line for a £51 million windfall after the company unveiled its second huge cash handout in four years.

Brian Souter, chief executive of the Perth-based group, owns 15.1 per cent of the shares and will get a pro-rata share of the £340m payment, which is in addition to ordinary dividends.

His sister and fellow founder Ann Gloag will get almost £37 million from her 10.9 per cent stake.

Stagecoach also issued an upbeat trading statement today showing growth in all of the group’s four businesses - including its UK bus business - in the 12 weeks to July 24.