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US firm repatriates €500m in dividends

Wim Roelandts - Xilinx CEO

By Ian Guider
AN AMERICAN multi-national company took out dividends of over €500 million from its Irish operations over a two-year period.

Xilinx, which designs computer chips, employs 450 people in Dublin where the company’s European headquarters is located.

Accounts just filed show some €235m in dividends was paid out of Xilinx Ireland in the year to April 2, 2005. In 2004, Xilinx Ireland paid out around €300m in dividends to its California-based parent.

The move is part of a plan by the company to repatriate hundreds of millions from its overseas operations under the American Jobs Creation Act of 2004. The Act allows US companies to bring back foreign earnings at a low tax rate.

Corporation tax on the company’s Irish earnings, which have built up over a 10-year period, was paid.

After paying out the dividends from its earnings in 2005, Xilinx Ireland swung into a loss of €56m. At pre-tax level, the company made profits for the year of €272.7 million, down 14% on the previous year.

"Fiscal 2005 was a year of solid financial performance for Xilinx Ireland. Revenues of $947 million declined slightly by 5.7% in FY05, reflecting more challenging global economic conditions. FY05 revenues were still the second highest annual revenues recorded by Xilinx Ireland," the company said.

Profits in 2005 fell because of increased investment in research and development and due to the strength of the euro against the US dollar.

"R&D expenditures have increased by 16.4% to $210.2 million ... The company’s success depends in large part on its ability to introduce new products that address customer requirements and compete effectively on price, density, functionality and performance."

In 2003, Xilinx announced an expansion of its operations in Ireland, aiming to create 500 jobs by 2008. The €52 million expansion is backed by the IDA. According to the accounts, the company cannot move this capital out of the country in the form of a dividend.

At its year end, following the dividend payments, Xilinx Ireland had retained profits of €142 million.

Payments to the company’s directors totalled €452,462, up from €414,958 in 2004.

The company’s chips are used in various products, ranging from mobile phones to military equipment.

Last July, the company announced plans to create a €7.5 million research labs in Ireland. The company has been in Ireland since 1995.

 

US firm repatriates €500m in dividends

Wim Roelandts - Xilinx CEO

By Ian Guider
AN AMERICAN multi-national company took out dividends of over €500 million from its Irish operations over a two-year period.

Xilinx, which designs computer chips, employs 450 people in Dublin where the company’s European headquarters is located.

Accounts just filed show some €235m in dividends was paid out of Xilinx Ireland in the year to April 2, 2005. In 2004, Xilinx Ireland paid out around €300m in dividends to its California-based parent.

The move is part of a plan by the company to repatriate hundreds of millions from its overseas operations under the American Jobs Creation Act of 2004. The Act allows US companies to bring back foreign earnings at a low tax rate.

Corporation tax on the company’s Irish earnings, which have built up over a 10-year period, was paid.

After paying out the dividends from its earnings in 2005, Xilinx Ireland swung into a loss of €56m. At pre-tax level, the company made profits for the year of €272.7 million, down 14% on the previous year.

"Fiscal 2005 was a year of solid financial performance for Xilinx Ireland. Revenues of $947 million declined slightly by 5.7% in FY05, reflecting more challenging global economic conditions. FY05 revenues were still the second highest annual revenues recorded by Xilinx Ireland," the company said.

Profits in 2005 fell because of increased investment in research and development and due to the strength of the euro against the US dollar.

"R&D expenditures have increased by 16.4% to $210.2 million ... The company’s success depends in large part on its ability to introduce new products that address customer requirements and compete effectively on price, density, functionality and performance."

In 2003, Xilinx announced an expansion of its operations in Ireland, aiming to create 500 jobs by 2008. The €52 million expansion is backed by the IDA. According to the accounts, the company cannot move this capital out of the country in the form of a dividend.

At its year end, following the dividend payments, Xilinx Ireland had retained profits of €142 million.

Payments to the company’s directors totalled €452,462, up from €414,958 in 2004.

The company’s chips are used in various products, ranging from mobile phones to military equipment.

Last July, the company announced plans to create a €7.5 million research labs in Ireland. The company has been in Ireland since 1995.

 

US firm repatriates €500m in dividends

Wim Roelandts - Xilinx CEO

By Ian Guider
AN AMERICAN multi-national company took out dividends of over €500 million from its Irish operations over a two-year period.

Xilinx, which designs computer chips, employs 450 people in Dublin where the company’s European headquarters is located.

Accounts just filed show some €235m in dividends was paid out of Xilinx Ireland in the year to April 2, 2005. In 2004, Xilinx Ireland paid out around €300m in dividends to its California-based parent.

The move is part of a plan by the company to repatriate hundreds of millions from its overseas operations under the American Jobs Creation Act of 2004. The Act allows US companies to bring back foreign earnings at a low tax rate.

Corporation tax on the company’s Irish earnings, which have built up over a 10-year period, was paid.

After paying out the dividends from its earnings in 2005, Xilinx Ireland swung into a loss of €56m. At pre-tax level, the company made profits for the year of €272.7 million, down 14% on the previous year.

"Fiscal 2005 was a year of solid financial performance for Xilinx Ireland. Revenues of $947 million declined slightly by 5.7% in FY05, reflecting more challenging global economic conditions. FY05 revenues were still the second highest annual revenues recorded by Xilinx Ireland," the company said.

Profits in 2005 fell because of increased investment in research and development and due to the strength of the euro against the US dollar.

"R&D expenditures have increased by 16.4% to $210.2 million ... The company’s success depends in large part on its ability to introduce new products that address customer requirements and compete effectively on price, density, functionality and performance."

In 2003, Xilinx announced an expansion of its operations in Ireland, aiming to create 500 jobs by 2008. The €52 million expansion is backed by the IDA. According to the accounts, the company cannot move this capital out of the country in the form of a dividend.

At its year end, following the dividend payments, Xilinx Ireland had retained profits of €142 million.

Payments to the company’s directors totalled €452,462, up from €414,958 in 2004.

The company’s chips are used in various products, ranging from mobile phones to military equipment.

Last July, the company announced plans to create a €7.5 million research labs in Ireland. The company has been in Ireland since 1995.

 

US firm repatriates €500m in dividends

Wim Roelandts - Xilinx CEO

By Ian Guider
AN AMERICAN multi-national company took out dividends of over €500 million from its Irish operations over a two-year period.

Xilinx, which designs computer chips, employs 450 people in Dublin where the company’s European headquarters is located.

Accounts just filed show some €235m in dividends was paid out of Xilinx Ireland in the year to April 2, 2005. In 2004, Xilinx Ireland paid out around €300m in dividends to its California-based parent.

The move is part of a plan by the company to repatriate hundreds of millions from its overseas operations under the American Jobs Creation Act of 2004. The Act allows US companies to bring back foreign earnings at a low tax rate.

Corporation tax on the company’s Irish earnings, which have built up over a 10-year period, was paid.

After paying out the dividends from its earnings in 2005, Xilinx Ireland swung into a loss of €56m. At pre-tax level, the company made profits for the year of €272.7 million, down 14% on the previous year.

"Fiscal 2005 was a year of solid financial performance for Xilinx Ireland. Revenues of $947 million declined slightly by 5.7% in FY05, reflecting more challenging global economic conditions. FY05 revenues were still the second highest annual revenues recorded by Xilinx Ireland," the company said.

Profits in 2005 fell because of increased investment in research and development and due to the strength of the euro against the US dollar.

"R&D expenditures have increased by 16.4% to $210.2 million ... The company’s success depends in large part on its ability to introduce new products that address customer requirements and compete effectively on price, density, functionality and performance."

In 2003, Xilinx announced an expansion of its operations in Ireland, aiming to create 500 jobs by 2008. The €52 million expansion is backed by the IDA. According to the accounts, the company cannot move this capital out of the country in the form of a dividend.

At its year end, following the dividend payments, Xilinx Ireland had retained profits of €142 million.

Payments to the company’s directors totalled €452,462, up from €414,958 in 2004.

The company’s chips are used in various products, ranging from mobile phones to military equipment.

Last July, the company announced plans to create a €7.5 million research labs in Ireland. The company has been in Ireland since 1995.