Port pays dividend to state

THE Port of Cork has paid €634,315, 30% of the company’s 2010 after-tax profits of €2.23 million, to the Exchequer — the first time the company has paid a dividend to the state.

Transport Minister Leo Varadkar has welcomed the decision of the Port of Cork to pay the state a dividend for 2010.

This is on top of €120,000 in corporation tax that has already been paid by the company.