Anglo shareholders to get double payment

Anglo Irish Bank shareholders are in line for a double dividend payment in the next couple of months. The bank has declared a final dividend of 3p per share (3.8 cents) for the final six months of its last financial year, bringing the total dividend for 1998 to 4.85p, up 18 per cent on the previous year. The board has also decided to bring forward the payment of its next interim dividend to maximise the net payment to its shareholders.

The Minister for Finance, Mr McCreevy, announced in the budget that tax credits on dividends would be abolished from April 5th. By paying an early dividend Anglo Irish Bank shareholders will be around 12.5 per cent better off than if it waited until July. The bank has noted a substantial increase in the number of investors buying its shares over the past 12 months, adding up to 1,000 new shareholders every month.