Bank of Ireland takes small step to return of dividend

Bank of Ireland will redeem €1.3bn of preference shares in early January next year, the lender said yesterday, the final step allowing it to resume dividend payments.

The shares rose over 4% to 35c.

The bank is now the country’s largest lender by assets and has benefited from the huge growth in the economy as it grows faster than any other in Europe, and is set to be the first bank in the country to resume dividend payments since the 2008 financial crisis.