Dáil Éireann debate -
Tuesday, 30 Sep 2003

Vol. 571 No. 1

Written Answers. - State Company Dividends.

Joe Costello

Question:

180 Mr. Costello asked the Minister for Finance the total amount paid to the Exchequer in the form of dividends from State companies in respect of 2001, 2002 and 2003; the anticipated figure for 2004; the dividends paid by each individual company to the Exchequer in 2003; his policy in regard to the payment of dividends by State companies; and if he will make a statement on the matter. [20747/03]

Minister for Finance (Mr. McCreevy)

The total amounts paid to the Exchequer in the form of dividends from State companies in respect of 2001, 2002 and 2003 are as set out below:

Year	Total Dividend received from State companies€000	Note
2001	51,741	€27.59m relates to dividend in respect of 1999, paid in 2001. The remainder is dividend in respect of 2000, paid in 2001.
2002	44,343	€19m relates to interim dividend in respect of 2002, paid in 2002. The remainder is dividend in respect of 2001, paid in 2002.
2003	25,964	This is the amount received to date.

2003: The following is a breakdown of the figure of €25.953 million which was received in 2003 to date:

Aer Rianta €7.245 million (in respect of 2002)

ESB €18.719 million (final dividend in respect of 2002).

The Irish Aviation Authority declared a dividend of €1 million in 2002 and this is expected to be paid to the Exchequer in October 2003. Bord Gáis Éireann declared a dividend of €9.8 million in 2002 and this is expected to be paid to the Exchequer in 2003.

As regards anticipated dividend payments for 2004, it is not possible to provide such figures as they will depend on the financial results of each company in 2003.

As the Deputy will be aware, the question of dividend payment is a matter for the board of each company. I would expect that the board would give due consideration to the views of the shareholder on the issue of dividends in the context of its deliberations on that matter. Expectations in relation to dividend receipts vary from company to company depending on the company's financial position generally and its capital investment requirements, etc.