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Semi-State Bodies Dividends

Dáil Éireann Debate, Wednesday - 15 April 2015

Wednesday, 15 April 2015

Ceisteanna (317)

Billy Timmins

Ceist:

317. Deputy Billy Timmins asked the Minister for Agriculture, Food and the Marine if he will provide a list of the semi-State commercial companies under his control, the policy of a dividend payment to the Exchequer from each company, the dividend paid by each company to the Exchequer for each year from 2000 to 2014; and if he will make a statement on the matter. [14958/15]

Amharc ar fhreagra

Freagraí scríofa

There are four commercial bodies under the aegis of my Department; Coillte, Bord na gCon, Horse Racing Ireland and the Irish National Stud. With regard to Coillte, one of the Government’s overall current policy objectives for Coillte is that the company should maintain financial policies and a capital structure that facilitate the payment of dividends to its shareholders. Coillte and its Board are in the process of developing a formal dividend policy, which is to include the method by which the dividend payable each year will be calculated in the context of the company’s financial performance. Active engagement with NewERA is anticipated in the process of concluding a formal dividend policy.

The table lists the dividends paid to the Exchequer by Coillte for each year from 2000 to 2014.

Year

Dividend Paid by Coillte

2000 - 2007

No dividend paid

2008

€2.6m

2009 -2010

No dividend paid

2011

€10m

2012

€2m

2013

€2m

2014

€4m

Neither Horse Racing Ireland, its subsidiaries, Bord na gCon nor the Irish National Stud paid a dividend from profit generated or retained during the period in question.

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