Boparan to forfeit his dividend

Ranjit Boparan will forfeit £36m of dividend payments over three years while he overhauls convenience foods maker Northern Foods, according to his takeover documents lodged this week. Boparan has brokered a deal with Northern’s pensions trustees to plug the £142m deficit in the fund, which will involve pouring in £15m a year, funded in part by Boparan’s annual dividend award from his existing business, 2Sisters Food Group. The deal is the same one that Greencore had promised Northern as part of their planned merger in November.