CRH has declared a second interim dividend of 9.50p (12.06c) in lieu of a final dividend in respect of 1998. This represents an increase of 15.2 per cent on last year's final. The total amounts to 13.50p (17.14c), representing an increase of 15 per cent.

The second interim dividend is being paid on March 30th, some two months early, because tax credits are being abolished from next April. This ensures that the after tax dividend will be higher -this depends on the individual tax payers' tax rate - than if the dividend were paid in the next tax year.

The decision to pay early will be an extra cost on CRH. The second interim will cost some £37 million (€46.98 million). A loss of this for two months would represent a cost of around £0.2 million.

CRH's results for 1998 are expect to be published in about four weeks time. Strong profit growth is anticipated. Brokers are looking for profit before tax of more than £310 million, compared with £253 million in 1997. The dividend payments in respect of 1998 are about 5 per cent higher than a number of brokers' forecasts.