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SERCO’S payment of dividends to shareholders was branded an “outrage” today after the firm reported bumper profits partly derived from its taxpayer-funded Covid test-and-trace scheme.
Dividends totalling £17 million will go to shareholders in the private outsourcing giant in its first such payouts for seven years.
Serco chief executive Rupert Soames said that gains from coronavirus-related contracts amounted to just 1 per cent of the company’s profits, but he admitted that they added £350m in revenue.
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