20 February is going to be pay day for certain Abbey directors and a welter of institutional investors after the Irish-based housebuilding and plant hire company announced an interim dividend of IR26p per share, way ahead of what was expected. The boon follows the buyback of 4% of the company's share capital since 30 April 2000 and another bonus dividend of 40p last year. The latest such news was accompanied by impressive figures showing pre-tax profits up by nearly 50% to IR£14.7m compared to the same period last year, on turnover up 31% to IR£64.2m, reflecting a buoyant Dublin property market. Florence O'Donoghue, an analyst at Irish house broker J&E Davy, expressed surprise at what he said were 'very, very good numbers', adding that he will 'definitely' be upgrading his full year rating for Abbey, especially given that the company is normally stronger in the second half of the financial year (it has already made 60% of his forecast earnings for the full year in the first half). O'Donoghue's comment that the board is continuing its 'shareholder-friendly policies' is undoubtedly correct though it is interesting to note that chairman Charles Gallagher's family is set to benefit rather handsomely from the generous dividends. Gallagher Holdings, a company wholly owned by the Gallagher family, holds just under 30% of the shares.