Home News Windfall for Eason Shareholders

Windfall for Eason Shareholders

It has been reported in the press that 230 Eason shareholders will benefit from a €20m pay out this autumn from the sale of a number of properties over the past 18 months. However, the sale of three other sites, including its flagship store on O’Connell Street in Dublin, has been delayed due to the impact of Covid-19 on the economy. The details appeared in a letter to Eason shareholders updating them on results for the year ending in January 2020. The original plan had been to sell up to €60m worth of property this year and to distribute the money in a tax efficient way to Eason shareholders. Although Covid-19 has put some of Eason’s plans on hold, the company did generate €4m in online sales of books during the lockdown, putting e-commerce sales well ahead of the same period last year.