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.