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The billionaire owner of Home Bargains received more than £20m in dividends last year despite the company’s profits falling 26%, according to This Is Money.
TJ Morris, the company that owns Home Bargains, posted profits of £290m for 2022 from revenues of £3.42bn.
This led the company to pay out a dividend of £30m with the vast majority of this number reportedly going to CEO Tom Morris.
The Morris family were criticised last year when they refused to pay back taxpayer support they received during the pandemic despite posting pre-tax profits of nearly £400m.
Home Bargains has 570 UK outlets selling a wide range of discount products and employs 28,000 workers making it Britain’s largest independent grocer. The Morris family is reportedly worth around £5bn.
Retail Sector has contacted Home Bargains for comment.
