O’Flaherty’s net €20m despite fall in profits

SOME €20 million in dividend payments were made last year to the O’Flaherty family, owners of one of the largest car dealerships in the country.

Accounts for O'Flaherty Holdings, the parent company of Motor Distributors Limited (MDL), show the payments were largely shares by just three directors of the company.

The biggest payment went to Michael O'Flaherty, 73, who netted just over €9 million for his 3.4 million shares in the company.