Semi-State Bodies Dividends

Dáil Éireann Debate, Wednesday - 17 July 2013

Wednesday, 17 July 2013

Questions (123)

Mary Lou McDonald

Question:

123. Deputy Mary Lou McDonald asked the Minister for Public Expenditure and Reform if his attention has been drawn to the fact that members of the ESB group of unions have initiated a legal challenge against the ESB and the Government regarding the €78.4 million dividend the company is due to pay to the State which the union members allege is unlawful as the payment is based on wrongly prepared accounts; and if he will make a statement on the matter. [35832/13]

Written answers

Minister for Public Expenditure and Reform

A representative from my department attended the AGM of the company at which the Chairman of the board outlined that it had received professional advice that, having taken appropriate legal advice in the matter, the board were satisfied that it would be in order to proceed with the AGM and the payment of the dividend.

The dividend payment, €74.5m of which was due to the Exchequer, was received on the 27th June 2013.