Technology

Meta’s Irish subsidiary pays out near €4bn dividend

Company, which was hit with a €1.2 billion fine by the Data Protection Commission in April said it set aside €4.42bn in regulatory compliance provisions last year

Meta Ireland paid a €3.7 billion dividend to its immediate parent, Facebook International Operations Limited at the end of the reporting period

The Irish arm of Meta, which owns both Facebook and Instagram, paid out a near €4 billion dividend last year as revenues rose 11 per cent to €58 million from €52 billion a year earlier.

Newly filed accounts for Meta Platforms Ireland company’s pretax profits increased 47 per cent to €1.8 billion in 2022.

The company, which was hit with a €1.2 billion fine by the Data Protection Commission in April said it set aside ...