ESB to pay State record E80m

Ian Guider

The company's annual report for 2004, which is due to be published next week, will show the dividend payment to the State coffers has risen by E13m on the E67m paid out in 2003.

The payment makes the ESB the largest contributor of the semi-State sector to the public purse. It will be paid out of the company's profits, which are expected to hit 270m. The annual report was due to go to the Cabinet for formal approval yesterday and is expected to be released next Thursday.