AIB completed the acquisition of its own share from the Department of Finance of Ireland for €999m.

Allied Irish Banks, a commercial bank, completed the acquisition of its own share from the Department of Finance of Ireland for €999m. “AIB announced at the beginning of March as part of their full year 2023 results, that the bank would be proposing capital distributions of c. €1.7bn to shareholders at their upcoming AGM. This would include both a dividend element and a buyback element. Following discussions between Department of Finance officials and AIB, and in light of the continued strength in the bank’s share price, I have agreed in principle to participate in this buyback on a fully directed basis. Given the size of the transaction, it will be subject to shareholder approval at an EGM. The successful completion of this transaction will see a further c. €1bn returned to the State which will be in addition to the c. €273m in dividends due to be received in May. Further details in relation to this transaction will be announced in due course,” Michael McGrath, Ireland Minister for Finance.