Ulster Bank Ireland is to pay a dividend of €1.5 billion to its owner Royal Bank of Scotland at the end of this month.
This marks the second dividend from the business, which covers the brand's Republic of Ireland operations.
It also made a €1.5 billion payment in November 2016.
Ulster Bank said it would remain in a strong capital position following payment of the dividend, well above regulatory capital minimums.
It also said the required regulatory approvals for the payment have been secured from both the Central Bank and the European Central Bank.
"This is another important milestone for Ulster Bank as we continue to increase our strength and sustainability and work towards our ambition to become the number one bank for customer service, trust and advocacy," Gerry Mallon, Ulster Bank's chief executive said.
The payment of this dividend is further evidence of our strong balance sheet and capital position. We look forward to making further payments in the future, with the permission of our regulator," Mr Mallon added.
