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Dublin Port pay State E8m dividend

Wednesday, July 02 14:11:34

The Dublin Port Company has paid the State a dividend of E8 million, transport minister, Leo Varadkar, said today.

While the company's financial accounts, for 2013, are yet to be published - and need to be laid before the Oireachtas before being formally published in August - Minister Varadkar published the annual dividend figure, noting the payment is in line with Dublin Port Company's commitment to make a dividend payment of 30pc of its after-tax profit annually.

"The port continues to play a crucial role in the economy, at national and local level, and the continued strength of the company's finances positions it well to deliver on its planned key infrastructural developments, the minister said.

Last year, Dublin Port Company paid the Government a total dividend of E15m, though this included a once-off special dividend of E8m. The company has paid the State nearly E70m in dividends in the past eight years.

In 2012, Dublin Port Company generated pre-tax profits of E22.8m - up 15.5pc on the previous year - eliminated its debt and boosted turnover by nearly 5pc to E68.4m.