Bank of Ireland's stunning half-year results will have delighted its shareholders and augers well for the full 1998 out-turn. The bank reported a record doubling of profits to £507.2 million in the six months to the end of September last.

On the back of this strong performance, the board of directors declared an interim dividend of 9.2p for each unit of ordinary stock, a 30 per cent increase on the previous interim dividend of 7.1p last year. Shareholders receive a tax credit of 1.1371p per share.

This means that an investor with 1,000 Bank of Ireland shares will receive a half-year dividend of £92. Those liable to pay tax at 46 per cent would then incur a tax liability of £42.32 on that return which is further reduced to £31 after the tax credit is deducted. This yields a net return of £61 per 1,000 shares.

The interim dividend will be paid on January 11th next to stockholders who are registered as holding ordinary stock at the close of business on November 27th. Shareholders may also opt to avail of the bank's Stock Alternative Scheme, under which new units of ordinary stock may be obtained in lieu of all, or part, of the cash dividend. Invitations to take up this offer will be posted in December.