Dividends


2012 Interim Dividend - paid on 19th October 2012:

Chairman’s Letter re Scrip Dividend Offer (PDF)
Scrip Dividend Election/Mandate Form (PDF)
Terms and Conditions of Scrip Dividend Scheme (PDF)

2011 Final Dividend - paid on 14th May 2012:

Chairman’s Letter to Shareholders (PDF) 
Scrip Dividend Election/mandate Form (PDF)
Terms and Conditions of Scrip Dividend Scheme (PDF)

Dividend Payments & History

Dividend payments

An interim dividend of 18.5c was paid in respect of Ordinary Shares on 19 October 2012.

Dividend Withholding Tax (DWT) must be deducted from dividends paid by an Irish resident  company, unless a shareholder is entitled to an exemption and has submitted a properly completed exemption form to the Company’s Registrars, Capita Registrars (Ireland) Limited (“Capita Registrars”). DWT applies to dividends paid by way of cash or by way of shares under a scrip dividend scheme and is deducted at the standard rate of Income Tax (currently 20%). Non-resident shareholders and certain Irish companies, trusts, pension schemes, investment undertakings and charities may be entitled to claim exemption from DWT. Copies of the exemption form may be obtained from Capita Registrars. Shareholders should note that DWT will be deducted from dividends in cases where a properly completed form has not been received by the record date for a dividend. Individuals who are resident in Ireland for tax purposes are not entitled to an exemption.

Shareholders who wish to have their dividend paid direct to a bank account, by electronic funds transfer, should contact Capita Registrars to obtain a mandate form. Tax vouchers will be sent to the shareholder’s registered address under this arrangement.

Dividends are generally paid in euro. However, in order to avoid costs to shareholders, dividends are paid in  Sterling and US Dollars to shareholders whose address, according to the Share Register, is in the UK and the United States respectively, unless they require otherwise.

As the above arrangements can be inflexible for institutional shareholders, where shares are held in CREST, dividends are automatically paid in euro unless a currency election is made. CREST members should use the facility in CREST to make currency elections. Such elections must be made in respect of entire holdings as partial elections are not permissible.

Dividends in respect of 7% ‘A’ Cumulative Preference Shares are paid half-yearly on 5 April and 5 October. Dividends in respect of 5% Cumulative Preference Shares are paid half-yearly on 15 April and 15 October.

Dividend history


2001 2002 2003 2004 Restated 2004 2005 2006 2007 2008 2009 2010 2011
Reported Dividend per share (cent) 23.00 25.40 28.10 33.00 33.00 39.00 52.00 68.00 69.00 62.5 62.5 62.5
Rights Issue Adjusted Dividend per share (cent) 20.74 22.90 25.34 29.76 29.76 35.17 46.89 61.31 62.22 62.5 62.5 62.5
Dividend cover (times) (b) 5.0 4.7 4.3 4.4 5.0 4.8 4.3 3.9 3.4 1.4 1.0 1.3

(b) Represents earnings per Ordinary Share divided by dividends per Ordinary Share.