Ciarán Lynch (Cork South Central, Labour) | Oireachtas source

I'd say we'll move on the next questioner. I just want to deal with the dividend issue there before I move into Senator D'Arcy, and just bring you to core document ... page 33, it's the minutes of the board's meeting of AIB in December 2008, and, Mr. Dobey, you were speaking to Senator MacSharry there a while ago, with regard to the appropriateness or inappropriateness of the view of AIB on this. Can I just ask you ... if you look at paragraph three in that ... Mr. Sheehy reported that investors were expressing concerns with respect to capital adequacy and dividend policy. He considered the capital position to be satisfactory and did not foresee a need to go to the market for equity. With respect to dividend, he advised that, in due course, management was likely to recommend a 10% increase in the interim dividend. Some directors expressed reservations in relation to such an increase. Now, in your own comment there earlier, you said that your interpretation of this is ... was that it was a show of strength. Now, a show of strength can be a real show of strength or an implied show of strength. Which do you think it was?