Shannon leasing firm pays dividend of €1m per Irish employee to US parent

SHANNON-based aircraft leasing firm General Electric Capital Aviation Services Ltd (GECAS) paid its US parent a dividend of $266 million (€216m) last year — more than €1m for each Irish employee.

Shannon leasing firm pays dividend of €1m per Irish employee to US parent

According to accounts just lodged with the Companies Registration Office, the Shannon firm’s dividend payout of $266m last November follows a dividend of $134m in 2008, resulting in an overall dividend payout of $400m (€326.4m) in two years.

The filings show that the company more than tripled its operating profit to $44m to the end of last December in spite of only marginally increasing the size of its business from $190m to $191m during the year.

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