Pearse Doherty (Donegal South West, Sinn Fein)
Link to this: Individually | In context | Oireachtas source

221. To ask the Minister for Finance further to Parliamentary Question No. 217 of 16 July 2013, the reason four billion one hundred and forty four million fifty five thousand two hundred and fifty four new AIB shares were issued to the national pension reserve fund in lieu of the €280 million dividend due and not 35.44 billion shares which equals the €280 million preference cash dividends due, divided by the .0079 Euro estimated value of AIB shares at the time of the dividend issuance. [38106/13]

Michael Noonan (Limerick City, Fine Gael)
Link to this: Individually | In context | Oireachtas source

As the Deputy will be aware, AIB issued 4.144 billion additional shares in lieu of the €280 million dividend on our preference shares earlier this year. The number of Bonus Shares issued is calculated according to a set formula by dividing the unpaid dividend amount of €280 million on the 2009 Preference Shares by the average price on an ordinary share over the period of 30 days trading immediately preceding the annual dividend date. For the 2013 allocation, the average price was approximately 6.7 cent per share.