Business

CPL founders Anne Heraty and Paul Carroll in line for €1m dividend payout

Seen & Heard: Bank of Ireland’s internal review, Bill Gates’s charity donation, and Tom Anderson sells some Datalex shares

Anne Heraty, a founder of Irish listed recruitment group CPL . She and her husband Paul Carroll are in line for a €1 million dividend payout.

Sun Jan 26 2020 - 16:42

CPL Resources founders Anne Heraty and Paul Carroll are in line for €1 million in dividend payments following a surge in the recruitment company's profits, according to the Business Post.

The Euronext Dublin-listed company last week announced a 25 per cent increase in its interim dividend to 10 cent a share. Ms Heraty, the chief executive of CPL, still owns 29.5 per cent, and will collect more than €800,000 through the dividend payment, while Mr Carroll, who is Ms Heraty’s husband, has a 5.4 per cent stake and will receive about €160,000.

Bank of Ireland review

Bank of Ireland has launched an internal review after it emerged that a former member of its cybersecurity staff had not disclosed his original identity when he was recruited, reports the Sunday Independent, which understands that the employee worked for the bank for 2½ years.

A spokesman for the bank confirmed to the newspaper that the review was under way and that the former member of staff’s decision not to disclose a changed identity was in breach of the bank’s policy.

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Bill Gates’s charity donation

The philanthropic trust of Microsoft founder Bill Gates donated more than $16 million to Global Citizen, the charity venture promoted by public relations businessman Declan Kelly, reports the Business Post.

Records for the Bill & Melinda Gates Foundation show it provided $16.6 million (€15 million) to the charity. Mr Kelly is a board member of Global Citizen and his communications agency Teneo is involved with it. The charity’s big project is a 24-hour series of music concerts being held across the world this September.

Six Nations hospitality

Arena Capital Partners, a provider of unregulated investments, has offered to take its top sales brokers to the Six Nations rugby in Paris just days before the Central Bank introduces a ban on this type of free hospitality for regulated investments, according to the Sunday Times.

To qualify for the trip, financial brokers were given four months to generate at least €500,000 worth of new business for Arena, which specialises in investments in overseas wind farms and property.

Facebook’s transfer pricing

The value of Facebook’s licensing agreement with an Irish subsidiary should be increased to $21 billion (€19 billion) from $6.5 billion (€5.9 billion), according to US tax authorities, reports the Sunday Independent.

The Internal Revenue Service (IRS) filed a memo to a US tax court saying this would double a Facebook tax bill to $3.8 million (€3.45 million). The IRS originally proposed a $13.9 billion (€12.6 billion) valuation but now says it should be $21 billion (€19 billion). A trial over this transfer pricing dispute is scheduled for next month.

Tom Anderson sells some Datalex shares

Cinema investor Tom Anderson has cashed in more than half his stake in travel software company Datalex just a week after buying shares in the company, according to the Sunday Times. Anderson's Cinema Holdings sold more than 2.4 million shares on Wednesday, bringing his holding down from 5.35 per cent to 2.14 per cent. The deal is part of unofficial private trading in Datalex, the shares of which have been officially suspended since last May.

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