Preliminary results year ended 31 December 2008
05 March 2009
Appendix D – IFRS additional disclosures
D 10 – Dividends and appropriations
| 2008 £m |
2007 £m |
|
|---|---|---|
| Ordinary dividends declared and charged to equity in the year | ||
| Final 2007 – 21.10 pence per share, paid on 16 May 2008 | 554 | – |
| (Final 2006 – 19.18 pence per share, paid on 18 May 2007) | – | 492 |
| Interim 2008 – 13.09 pence per share, paid on 17 November 2008 | 348 | – |
| (Interim 2007 – 11.90 pence per share, paid on 16 November 2007) | – | 309 |
| 902 | 801 | |
| Preference dividends declared and charged to equity in the year | 17 | 17 |
| Coupon payments on direct capital instrument | 56 | 53 |
| 975 | 871 |
Subsequent to 31 December 2008, the directors proposed a final dividend for 2008 of 19.91 pence per ordinary share (2007: 21.10 pence), amounting to £529 million (2007: £554 million) in total. Subject to approval by shareholders at the AGM, the dividend will be paid on 15 May 2009 and will be accounted for as an appropriation of retained earnings in the year ending 31 December 2009.
Interest on the direct capital instrument issued in November 2004 is treated as an appropriation of retained profits and, accordingly, it is accounted for when paid. Tax relief is obtained at a rate of 28.5% (2007: 30%).
