State received dividends of €261 million from commercial semi-State companies in 2018

Business | Thu 18 Apr | Author – Business & Finance

Minister for Finance, Paschal Donohoe reports total dividends from these companies reached €2.4 billion since 2010.

The dividends, paid out by nine commercial semi-States this year, are 19 per cent lower than the €323.74 million paid out by ten companies last year.

The biggest contributor last year was Ervia, operator of Irish Water and Bord Gáis. The company paid out €139 million last year, down from €148 million in 2017.

The Dublin Airport Authority (DAA) paid out the next highest dividend at €37.4 million, an increase of 28.5% in 2017. ESB paid out €33 million, down from €109.9 million in 2017, €82.16million in 2016 and €258.7 million in 2015.

Coillte, the forestry group, paid out almost double last year (€15 million) than the previous year (€8 million).

Michael McGrath, Fianna Fáil spokesman said that while dividends are an important source of revenue for the government, “it should be recognised these dividends are ultimately being paid by the end consumers buying goods and services from these companies”.