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Dáil
‹ Ceisteanna ar Pholasaí nó ar Reachtaíocht - Questions on Policy or Legislation

Bord na Móna dividends

Summary

Deputy Troy seeks intervention over Bord na Móna’s decision to retain dividends due to employees and pensioners. The Tánaiste says he will speak to the Minister and ask him to engage with Bord na Móna.

I am raising the issue of Bord na Móna employees and pensioners. A number of years ago, as part of the just transition programme, and in recognition that they received no wage increase for approximately 15 years, shares were issued with an option for employees and pensioners to either sell or retain them. Until this year those shares were receiving dividends. This year Bord na Móna unfortunately took the decision to part retain its dividends and said the dividends would be paid over the next five years. That is on the backdrop of last year being one of its most profitable years on record. Given the State's involvement and the Government's interest in Bord na Móna, I first ask if the Government was consulted about this decision to retain the dividends and pay them out over five years. Second, will the Minister with responsibility for Bord na Móna speak to the CEO to see if the dividends can be paid out in full this year rather than paying them out over five years?

Comment on this

Please, Deputy, the time is up.

Comment on this

The employees and pensioners have been co-operative in the transition of Bord na Móna over the past number of years.

Comment on this

I thank the Deputy for raising the issue in respect of the employees of Bord na Móna. I will talk to the Minister and alert him to the fact that the Deputy has raised this with a view to him engaging with Bord na Móna to see if this issue can be resolved.

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