Air New Zealand 2008 Annual Report Download - page 37

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AIR NEW ZEALAND
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
AS AT 30 JUNE 2008
17. OTHER LIABILITIES
GROUP
2008
$M
GROUP
2007
$M
COMPANY
2008
$M
COMPANY
2007
$M
Current
Employee entitlements 122 119 110 111
Amounts owing to subsidiaries - - 1,034 980
Amounts owing to associates 1 3 1 3
Deferred credits with subsidiaries - - 2 2
Other liabilities (including defined benefit liabilities) 13 12 12 10
136 134 1,159 1,106
Non-current
Employee entitlements 11 11 11 11
Other liabilities 34 42 23 29
Amounts owing to subsidiaries - - 94 93
45 53 128 133
18. DISTRIBUTIONS TO OWNERS
GROUP
2008
$M
GROUP
2007
$M
COMPANY
2008
$M
COMPANY
2007
$M
Distributions recognised
Interim dividend on Ordinary Shares 53 32 53 32
Special dividend on Ordinary Shares - 105 - 105
Final dividend on Ordinary Shares 53 25 53 25
106 162 106 162
Distributions paid
Interim dividend on Ordinary Shares 51 31 51 31
Special dividend on Ordinary Shares - 107 - 107
Final dividend on Ordinary Shares 49 22 49 22
100 160 100 160
On 25 August 2008, the Board of directors declared a final dividend for the 2008 financial year of 3.5 cents per Ordinary Share, payable on 19
September 2008 to registered shareholders at 9 September 2008. The total dividend payable will be $37 million. Imputation credits will be attached and
supplementary dividends paid to non-resident shareholders. This dividend has not been recognised in the June 2008 financial statements.
An interim dividend of 5.0 cents per Ordinary Share was paid on 28 March 2008. Imputation credits were attached and supplementary dividends paid
to non-resident shareholders. Under the dividend reinvestment plan, interim dividends payable of $4 million were settled by the issue of 2,759,057
Ordinary Shares, at $1.3269 per Ordinary Share.
A final dividend in respect of the 2007 financial year of 5.0 cents per Ordinary Share was paid on 27 September 2007. Imputation credits were attached
and supplementary dividends paid to non-resident shareholders. Under the dividend reinvestment plan, dividends payable of $5 million were settled by
the issue of 2,296,165 Ordinary Shares, at $2.1529 per Ordinary Share.
A dividend reinvestment plan (the Plan) has been established which offers eligible shareholders the opportunity to increase their investment in the
Company by applying dividends received on some or all of their existing Ordinary Shares to the acquisition of additional Ordinary Shares. All shareholders
with registered addresses in New Zealand and Australia are entitled to participate in the Plan. The subscription price of Ordinary Shares issued under
the Plan will be at a discount of 1.5 percent of the volume weighted average sale price of the Ordinary Shares on the NZSX and ASX over the first
five trading days on which the Shares trade ex-entitlement on the NZSX. For participation in the Plan to be effective in relation to the Final dividend
which is proposed to be paid on 19 September 2008, a properly completed participation form must already be held, or will need to be received, by
Computershare prior to 5.00 pm (NZ time) on 9 September 2008.
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