Car dealer AP Eagers to give shareholders $64m in dividends after receiving $130m in jobkeeper subsidies

Car dealer AP Eagers to give shareholders $64m in dividends after receiving $130m in jobkeeper subsidies

The Guardian

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Billionaire Nick Politis to receive about $17m as pressure mounts for companies that received jobkeeper and then turned a profit to repay the subsidy

Car dealer group AP Eagers will pay shareholders, who include the billionaire Nick Politis, dividends totalling almost $64m after receiving jobkeeper wage subsidies of $130m.

The group, which owns dealerships that sell cars ranging from Kias to Porsches, declared an after-tax profit of $156m on Wednesday, despite lockdowns during the pandemic that kept people away from its yards.

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