Sisk’s €90m dividend as profits fall

CONSTRUCTION giant John Sisk & Son paid out a dividend of more than €90 million last year as pre-tax profits fell by €2.5m.

Accounts just filed by the construction division of the Sisk Group show the substantial dividend was paid in a year when turnover (including share of joint ventures) dropped by 7.2% to almost €1.14bn from €1.22bn in 2007. The 150-year-old company paid an interim dividend of €226.77 per €1.25 ordinary share amounting to €90,709,000.

The directors have not proposed a final dividend for the year-ended December 31. It is understood that the dividend was paid to the holding company of the Sisk Group, which is listed in the annual return as the main shareholder. A company spokesman said he could not clarify where the dividend was paid.