asked the Minister for Finance if he will state the total amount of interest paid by the Industrial Credit Company for money advanced to it for the financial years 1956-57, 1957-58 and 1958-59.
Ceisteanna—Questions. Oral Answers. - Industrial Credit Company's Interest Payments.
20.
Sums made available from the Exchequer to the Industrial Credit Company in the financial years 1956-57, 1957-58 and 1958-59 to date consisted of payments for shares in the company. Such payments are not, of course, subject to interest, but dividends on the share capital are paid from time to time by the company according as is warranted by the profitability of its operations and making allowance for appropriate reserves. A dividend at the rate of 4 per cent. per annum, less income-tax, was paid by the company for each of its accounting years ended on the 31st October, 1956, 1957 and 1958. As shown in Account No. XI of the Finance Accounts for the financial years 1956-57 and 1957-58, copies of which have been presented to the Dáil, the net amounts of the dividends received in those years were £43,539 and £48,223 respectively. A net amount of £49,968 has been received in 1958-59.