Semi-states pay dividends to State of €1.32bn in 11 years

New figures show that semi-state owned commercial firms have paid the State over €1.32bn in dividends over the past 11 years.

Minister for Public Expenditure Brendan Howlin confirmed that between 2003 and 2013, state-owned firms paid the Government €1.325bn in dividends.

Prior to 2008, total annual dividends received by government did not go over €83.9m in any year and totalled only €36.7m in 2003.

The statistics show that the dividend payout from then doubled in the space of one year, from €83.9m in 2007 to €170.9m in 2008.

In a written Dáil response to Fianna Fáil’s Michael McGrath TD, Mr Howlin confirmed that the amount in dividends paid out last year more than doubled to €264m.

The dividend payout in 2013 follows a dividend payout of €111.6m in 2012 and €137.5m in 2011.

The ESB has paid dividends totalling €860m over the period including €139.4m last year with Bord Gáis paying out €250m.

The Dublin Port Company has paid €61.8m in dividends over the period, including a dividend payout of €15m in 2013.

The figures for 2013 show that the third highest amount was paid out by Irish Life which paid out €40m.

Over the 11 years Bord na Mona paid out €43.9m in dividends.

Aer Lingus made only its second dividend payment in the period when it paid €5.3m to the Government last year, compared to €4m in 2012. The Cork Port Authority paid dividends €of €1.4m in total over 2013, 2012 and 2011.