Dáil Éireann Debate, Wednesday - 13 July 2022
125. Deputy Ged Nash asked the Minister for Finance the yield to the State in each of the past five years from dividends from the State shareholdings in banks; the projected yield in 2022; and if he will make a statement on the matter. [38611/22]
View answer126. Deputy Ged Nash asked the Minister for Finance the yield to the State in each of the past five years from dividends from the State shareholdings in banks; the projected yield in 2022; and if he will make a statement on the matter. [38612/22]
View answerI propose to take Questions Nos. 125 and 126 together.
In answering the Deputy's question, I should note that a recommendation to pay dividends is the sole responsibility of the board and management of the banks. I am precluded from intervening in commercial and operational decisions in any particular bank, even one in which the State has a shareholding and as such it would not be appropriate for me to speculate on the projected dividend yield for 2022.
I also wish to highlight that ECB guidance in relation to the COVID-19 pandemic in March and December 2020 impacted on dividend distributions for 2020 and 2021. AIB and BOI withdrew their proposed dividend for the year ended 31 December 2019 (PTSB had not proposed a dividend at this time) which was due to be paid in 2020. None of the banks paid a dividend during 2021.
The total yield to the State across the past five years from dividends from the State shareholdings in banks is €689 million. The below table sets out the dividends received by year and institution for each of the past five years.
|
Dividends Received (€ million) |
AIB |
BOI |
PTSB |
|
2018 |
232 |
17 |
0 |
|
2019 |
328 |
24 |
0 |
|
2020 |
0 |
0 |
0 |
|
2021 |
0 |
0 |
0 |
|
2022 |
86 |
2 |
0 |
Please note that the dividend received in each year relates to the previous financial year in the banks. Hence the dividend received in 2022 relates to the banks 2021 financial year etc.
