Smurfit Kappa president Tony Smurfit yesterday spent €1.37 million buying 321,558 shares in the packaging company.

Mr Smurfit, a son of former company head Michael Smurfit, purchased the shares at €4.28 apiece. This took his holding to 894,179 shares or 0.4 per cent. With Smurfit Kappa due to pay a final dividend of 15 cent a share on May 11th, Mr Smurfit is due to receive a payment of €1.34 million for his increased stake.