The National Asset Management Agency (NAMA) has today completed the transfer of €250m to the Exchequer. This is the fourth payment to the Exchequer from NAMA’s lifetime surplus bringing total cash transfers to date to €2.75bn.
- €250m payment today represents fourth transfer from NAMA’s surplus and brings total transferred to Exchequer to €2.75bn
- A further €250m will be transferred by end-2021
- By end 2021, €3.4 billion of the projected dividend will be paid to the Exchequer including €400m in Corporation Tax
- Additional transfers totalling €1.25bn will be made in coming years
NAMA plans a further payment to the Exchequer of €250m by the end of 2021. NAMA will make additional transfers from its projected lifetime surplus of €4.25bn over the coming years. All surplus transfers are subject to market conditions.
Coupled with corporation tax paid of €400m, NAMA’s total dividend to the State from its operations will be of the order of €4.65bn of which €3.4 billion will be paid by end 2021.
Brendan McDonagh, NAMA Chief Executive, said:
“Today’s payment represents just one of a number of cash transfers NAMA continues to make from its lifetime surplus. We expect to have transferred €3.4bn in cash by the end of this year and will make further payments totalling €1.25bn over the coming years. These payments represent a valuable contribution to the State and are enabled by our strong cash position and continued profitability.”
