Chair of Smurfit Business School indicates decreased dividend payment to UCD

In an interview with the Irish Times last Friday, the Chair of the Michael Smurfit Business School, Niall FitzGerald, revealed that the business school is considering paying less of its profits back into UCD in order to focus internal investment.FitzGerald was quoted as saying that “The entity today is profitable as a standalone school of business, but much of its surplus goes to the rest of the university. We need to refine the strategy for the next five to 10 years.” He also added that the Smurfit Business School “will decline if we continue to do what we’re doing”.The most recent accounts for the graduate business school showed a  surplus of just under €9.5 million in the 2012/3 academic year, €8 million of which was returned as a dividend to the University.FitzGerald is formerly the chief executive of Unilever and took up the chairmanship of the advisory board of the Smurfit school last year.