Irish unit of BMC pays €34.2m dividend to parent

An Irish unit of US software giant BMC paid a dividend of €34.2 million to its parent last year after it earned €72.3 million in income from subsidiary undertakings.

Newly-filed accounts for Dublin-based BMC Software Ireland Limited show turnover at the company, which makes cloud-based software that allows managers to monitor IT services, rose 31 per cent to €17.6 million for the 12 months ending March 31st, 2016. This compares to revenue of €13.4 million a year earlier.

Pretax profits rose from €784,103 to €72.3 million due to the additional income from subsidiary undertakings, with operating profit increasing 4 per cent to €1.2 million from €1.1 million.

BMC Ireland derives its income from the provision of services to BMC Software Europe, which is also based in Sandyford. Its ultimate parent is headquartered in Houston, Texas. The group went private in September 2013 as part of a $6.9 billion (€6.5bn) deal led by Bain Capital and Golden Gate Capital. The company employs over 6,000 people and has an annual revenue of $2 billion (€1.9bn).

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Shareholders’ funds for the Irish subsidiary rose 830 per cent as a result of the dividend received from subsidiary undertakings last year.

BMC Software Ireland employs 73 people. Staff costs, including wages and salaries, totalled €7.6 million for the 12 months to the end of March 2016. Directors’ remuneration totalled €165,372 compared with €196,249 a year earlier.