Wednesday, 2 October 2013

Questions (166)

Michael McGrath

Question:

166. Deputy Michael McGrath asked the Minister for Public Expenditure and Reform if the €100 million extra in dividends from State companies provided for in budget 2013 represents a permanent change in the State's policy in respect of dividend pay-out from the commercial semi-State companies; and if he will make a statement on the matter. [41374/13]

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Written answers (Question to Public)

The additional €100m in dividends from State companies, provided for in Budget 2013, is in addition to the normal dividends expected of State companies. In general, dividends of 30% of profits after tax have been sought of State companies in recent years. My Department, working with other relevant Departments and NewEra, which has been established to advise Government Departments on shareholder matters, is at present working on developing a new dividend policy for commercial state companies.