Shareholders of Kerry Airport expressed their frustration at not being issued a divided at their Annual General Meeting today. Since 1992, when shareholders started investing in the set up of the airport, they haven’t been issued dividends. At their AGM today, some shareholders asked that a part dividend or a discount on domestic flights or parking at the airport be issued; pointing out that it’s not for the sake of money but to prove their part ownership in the company.
Former Councillor and shareholder James Courtney asked that those who have shares in the airport should have the final says on what dividend is paid; and that a dividend should be paid to the smaller shareholders, and perhaps only to those who attend the AGMs. Another shareholder, Listowel Councillor Din Stack asked if Kerry Airport was a charity or a business, saying the time is right to do something about the payment of dividends.
Chairman of Kerry Airport Denis Cregan says he empathises with the shareholders, saying their track record with regards to the payment of dividends is pretty dismal. He says they’re not overtly profitable and need to retain cash flow for the planned development of the airport. The board are to look at the suggestions made at the AGM, saying they’ll have to seek legal advice on some of them, but its Chair Denis Cregan says he wouldn’t be holding out too much hope for the payment of a dividend this year.