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Farmer Business Developments Promises a Special Dividend of €8.6 million

An €8.6 million dividend special dividend for 2023 was distributed to almost 4,000 shareholders of Farmer Business Developments plc, increasing their total dividends to €2,696 per share for the year.

The farmer-owned investment holding company, which operates hotels and insurance, announced on Wednesday that it had distributed a special end-of-year dividend to its 4,050 common shareholders last month, valued at 17 cents per share.

The €8.6 million one-time payment increased dividends to 26 cents per share for the year. According to Chairman Pat Murphy’s calculations, Farmer Business Developments gave stockholders a total of €13 million in 2023.

“The total dividends paid in 2023 were worth €2,696 before dividend withholding tax for our most common shareholders, who today hold 10,369 shares based on their IRE£50 (€63) original investment in FBD in the late 1960s,” he stated.

The board decided to pay back backers because of a special dividend that FBD Holdings paid out in October.

“In this instance, the board distributed slightly more than 100% of the funds received to round up the special dividend to 17 cents per share,” Mr. Murphy continued.

The chairman announced that 309 individuals who purchased 3.26 million shares in the autumn at a price of €1.91 apiece were among the holders of ordinary shares who were eligible for the year-end special dividend.

According to Mr. Murphy, the board always thought about distributing special dividends to shareholders “having regard to the needs of the company at the time of the declaration of any such dividend” in cases where Farmer Business Developments received extraordinary payments.

Based on its record of shareholders as of November 3rd of last year, the corporation paid the cash to shareholders on December 20th via electronic transfer or by mail over the Christmas holiday.

Farmer Business Developments controls 100% of FBD Hotels and Resorts, development land near Berlin’s new airport, and 27.8% of the listed FBD Holdings, whose primary business is FBD Insurance.

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