Exchequer Receives €440M in State Company Dividends Over Two Years

The Exchequer received nearly €440 million in dividends from State companies over the past two years, according to Simon Harris, the Tánaiste and Minister for Finance. In 2024, the largest contribution came from the Electricity Supply Board (ESB), which paid €213.5 million to the Exchequer.

These dividends have sparked discussions regarding their potential use in enhancing the national grid and reinforcing energy security. The Social Democrats emphasized that proceeds from these dividends could serve as a substantial fund for necessary upgrades to Ireland’s energy infrastructure. Government policy advocates for a balanced approach between dividend payments and reinvestment in these State-owned enterprises.

In a recent parliamentary inquiry, Aidan Farrelly of the Social Democrats noted that the dividends from the gas and water utility Ervia amounted to €44 million in 2024. Overall, Harris revealed that the Exchequer received approximately €290 million in share dividends from State-owned companies that year.

The contributions from various entities included €13.3 million from Bord na Móna, €6 million from the Dublin Port Company, and €4 million from EirGrid, which oversees the electricity grid. The State forestry company Coillte contributed €4.4 million, while AirNav, responsible for air traffic management, paid €4.5 million in dividends for the same year. Additionally, the Exchequer received €600,000 from the Port of Cork in 2024.

As of October 2025, dividends from Gas Networks Ireland exceeded €62 million, with EirGrid providing €54 million and Bord na Móna contributing €23.17 million. These figures highlight the ongoing importance of State companies in generating revenue for the government.

Farrelly remarked that the substantial annual returns from the ESB, which have exceeded €1 billion in the past decade, could be strategically directed towards upgrading and securing the national grid. He emphasized the importance of these funds in ensuring reliable energy supply for the future.

In a statement made in June 2023, former Minister for Public Expenditure Paschal Donohoe reiterated government policy mandating that commercial State companies pay dividends to the State. He outlined that NewERA, the organization advising the government on its shareholdings in State companies, has established a “shareholder expectations framework” to ensure clarity regarding the government’s strategic priorities and financial performance.

Donohoe explained that the framework includes a specific focus on dividend policy, aiming to strike a suitable equilibrium between dividend payments and reinvestment in the respective businesses. This policy is primarily managed by the relevant government department for each commercial State company.

The ongoing discussion surrounding these dividends and their potential use underscores the critical role that State companies play in both the economy and the future of Ireland’s energy infrastructure.