Investment holding company TVC Holdings has reported pre-tax profits of €6.6m for the year to the end of March, down from a figure of €9.19m in 2012.
The company said that subject to shareholder approval, it will return €50m of surplus cash to its shareholders via a proposed special dividend of 49.5 cent per ordinary share.
It said the move is due to the very limited number of investment opportunities and comes after the firm considered a range of strategic and financial options to enhance shareholder value.
TVC Holdings reported a gross portfolio return of €9.3m for the year.
This was made up of a realised gain on the sale of an investment worth €3.9m, a rise of €3.9m in the value of its remaining investment portfolio and portfolio income of €1.5m.
Last August the company sold its interest in the TAS Group for which it received proceeds of $9.2m. In March of this year, Intel agreed a deal to buy Aepona for which TVC received proceeds of $1m last month.
TVC said that during the year it evaluated a number of potential new investment opportunities but chose not to complete any new investments.
See how shares in TVC Holdings performed in Dublin today
The company said that since March 2011, its cash and government bonds have increased by almost €50m to €80m as a result of the sale of Norkom and a number of its unquoted technology investments.
''Against a backdrop of continued economic uncertainty, for the fourth consecutive year the company's net asset value per share has grown, driven by the sale of its investment in the TAS Group, realising proceeds of €7.4m and unrealised value growth in our investment portfolio,'' commented the company's executive chairman Shane Reihill.
He said the company's ''selective'' investment approach is the correct strategy. ''TVC will continue to look for value enhancing investments and to manage its existing portfolio in order to maximise value for all our shareholders,'' he added.
