The chief executives of three firms that rent out trains to Britain’s railways were paid a combined £3.5 million last year, while the companies distributed nearly £400 million to shareholders in dividends. Rail unions have accused these rolling stock companies (Roscos) of profiting at the expense of passengers.
Financial Overview
The figures were revealed in accounts published this week, coinciding with the announcement of a new rolling stock strategy for Britain’s railways by ministers. The government is contemplating the direct ownership of trains through the public body Great British Railways, rather than leasing them from the private sector.
Dividend Payments and Executive Salaries
- Porterbrook Holdings paid £80 million in dividends, with CEO Mary Grant receiving a salary increase of over 10% to £1.44 million.
- Eversholt Rail distributed £200 million in dividends in 2025 shortly before its sale by CK Hutchison to Beacon Rail. The departing CEO, Mary Kenny, earned £1.33 million.
- Angel Trains allocated £111 million in dividends and paid its CEO, Malcolm Brown, a salary of £700,000.
These salaries significantly exceed those of other railway executives, including the heads of Network Rail and HS2.
