eircom staff to share in €446m dividend payment

EMPLOYEES and shareholders at the telecommunications company eircom are to share in a €446 million dividend payment it emerged last night.

The 13,000 members of eircom’s employee share ownership trust (ESOT) will receive €165m in dividends from its 30% stake in the company, equivalent to around €12,500 for each member of the ESOT. However, it is not known if all of the cash will be paid out in one lump sum.

It also emerged the company’s largest shareholder, America firm Providence Equity Partners, will receive just over €200m, while Soros Private Equity, owned by billionaire currency speculator George Soros, will receive around €85m.