Semi-State Bodies

Dáil Éireann Debate, Thursday - 16 February 2023

Thursday, 16 February 2023

Ceisteanna (201)

Catherine Murphy

Ceist:

201. Deputy Catherine Murphy asked the Minister for Finance if he will provide a schedule of the non-commercial and semi-State commercial companies under his aegis; if an explanatory memorandum will be provided in respect of 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 2022; if his Department collects the funds and forwards it to the central fund or whether it goes directly; if over that period his Department has requested an increase in respect of the dividend due over its percentage shareholding; the number of occasions that it waived the dividend; the reason; and if he will make a statement on the matter. [7904/23]

Freagraí scríofa

Minister for Finance

The non-commercial State Bodies under the aegis of my Department are the Central Bank of Ireland, the Credit Union Restructuring Board, the Financial Services and Pensions Ombudsman, the Irish Fiscal Advisory Council and the National Treasury Management Agency.

As commercial bodies, the National Asset Management Agency (NAMA), the Strategic Banking Corporation of Ireland (SBCI) and Home Building Finance Ireland (HBFI) have provided the information below.

NAMA expects to generate a total lifetime surplus of €4.5bn from its activities. €3.5bn has been transferred to the Exchequer to date and a further €1bn will be paid by end-2025, subject to market conditions. Dividends paid by NAMA since its establishment in 2009 as are follows:

Year	2009-2019	2020	2021	2022	Total
Dividend Paid	-	€2bn	€1bn	€500m	€3.5bn

The SBCI may pay such dividends to the Minister for Finance as may be decided by its Board. All amounts representing dividends or other moneys received by the Minister in respect of shares held by him or her in the share capital of the SBCI shall be paid into, or disposed of for the benefit of, the Exchequer in such manner as the Minister may direct. Since its establishment, the SBCI has not paid a dividend.

HBFI may pay such dividends to the Minister for Finance as may be decided by the board of HBFI following consultation with the Minister. Since its inception in December 2018, no dividend has been paid by HBFI to the Exchequer.