Healy back onto board at FBD Plc
Published 29/06/2016 | 02:30
IFA president Joe Healy has retained his seat on the board of directors at Farmer Business Developments Plc, the company that owns 26pc of FBD Insurance, along with various hotel and development properties.
The re-election of the IFA leader and Jack Bayly at last week's AGM ended the attempt by Donegal farmer and shareholder Brian Marshall to secure a seat on the 17-man board of directors.
Directors receive annual fees of €6,600 plus expenses, while total board fees last year were €116,000.
The company, which controls assets worth €178m, has no audit or remuneration committee.
It reported profits of €11.5m last year.
Shares in the company traded at 80c per share last year, with a 5c annual dividend in recent years.
Profits took a hit in recent years with the slide in fortunes at FBD Insurance, which necessitated the purchase of 50pc of a hotel portfolio costing €48.5m.