The National Asset Management Agency (NAMA) has today completed a €250m cash transfer to the Exchequer bringing the total cash paid over by NAMA to €3.666 billion to date. This is the sixth payment to the Exchequer from NAMA’s lifetime surplus with cash transfers totalling €3 billion already completed. In addition, NAMA has made corporation tax payments totalling €416m to date.
NAMA recently increased its lifetime surplus projection to €4.5 billion, meaning NAMA’s total dividend to the State from its operations will be of the order of €4.9 billion. NAMA will make additional transfers totalling €1.25 billion from its surplus over the coming years, including a further payment of €250m by the end of 2022. All surplus transfers are subject to market conditions.
Brendan McDonagh, NAMA Chief Executive, said:
“Today’s payment of €250m brings total cash delivered from NAMA to the State to €3.666 billion. This is a considerable achievement enabled by our strong cash position and continued profitability. Our projected lifetime contribution to the State, including tax paid, now stands at €4.9bn and we will continue to make significant contributions to the Exchequer by end 2022 and in future years.”
