This Is, Ahem, Unusual: Autotrader Insiders Borrowed Money To Pay Themselves A $400 Million Dividend

A handshake in the shadows

Autotrader is about to IPO and it’s warned future shareholders that credit limitations will restrict it from paying out a dividend.

That’s normal.

What’s not: Just three months ago, Autotrader insiders borrowed as much as $1.3 billion in order to pay themselves a $400 million dividend.

Fortune’s Dan Primack, who publishes a must-read email every morning, has the full, weird story.

Go read it.

NOW WATCH: Tech Insider videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at research.businessinsider.com.au.

Tagged In

ipos sai-us