Dáil Éireann Debate, Tuesday - 3 November 2015
314. Deputy Michael McGrath asked the Minister for Finance the income in cash terms received by the State in respect of the preference shares which it holds in Allied Irish Banks; and if he will make a statement on the matter. [37877/15]
View answerThe State holds €3.5 billion of preference shares in AIB. These were acquired on 13 May 2009. The interest payable on these securities is €280 million per annum and is payable in cash or ordinary shares in the event of non-payment in cash. AIB issued ordinary shares to the State in lieu of the dividend due on the preference shares in May 2010, May 2011, May 2012, May 2013 and May 2014. The State received a cash dividend of €280m in relation to its 2009 Preference Shares for the first time in 2015.
