Aviva 2013 Annual Report Download - page 158

Aviva plc
Annual report and accounts 2013
156
Notes to the consolidated financial statements continued
15 – Earnings per share continued
(b) Diluted earnings per share
(i) Diluted earnings per share is calculated as follows:
2013
Restated2
2012
Total
£m
Weighted
average
number of
shares
million
Per share
p
Total
£m
Weighted
average
number of
shares
million
Per share
p
Profit/(loss) attributable to ordinary shareholders 648 2,940 22.0 (326) 2,910 (11.2)
Dilutive effect of share awards and options — 39 (0.2) — 44 —
Diluted earnings/(loss) per share from continuing operations1 648 2,979 21.8 (326) 2,954 (11.2)
Profit/(loss) attributable to ordinary shareholders 1,273 2,940 43.3 (2,848) 2,910 (97.9)
Dilutive effect of share awards and options — 39 (0.6) — 44 —
Diluted earnings/(loss) per share from discontinued operations1 1,273 2,979 42.7 (2,848) 2,954 (97.9)
Diluted earnings/(loss) per share 1,921 2,979 64.5 (3,174) 2,954 (109.1)
1 Losses have an anti-dilutive effect. Therefore the basic and diluted earnings for 2012 have remained the same.
2 Restated for the adoption of revised IAS19. See note 1 for further details.
(ii) Diluted earnings per share on operating profit attributable to ordinary shareholders is calculated as follows:
2013
Restated1
2012
Total
£m
Weighted
average
number of
shares
million
Per share
p
Total
£m
Weighted
average
number of
shares
million
Per share
p
Operating profit attributable to ordinary shareholders 1,254 2,940 42.6 1,255 2,910 43.1
Dilutive effect of share awards and options — 39 (0.5) — 44 (0.6)
Diluted operating profit per share from continuing operations 1,254 2,979 42.1 1,255 2,954 42.5
Operating profit attributable to ordinary shareholders 207 2,940 7.0 161 2,910 5.5
Dilutive effect of share awards and options — 39 (0.1) — 44 (0.1)
Diluted operating profit per share from discontinued operations 207 2,979 6.9 161 2,954 5.4
Diluted operating profit per share 1,461 2,979 49.0 1,416 2,954 47.9
1 Restated for the adoption of revised IAS19. See note 1 for further details.
16 – Dividends and appropriations
This note analyses the total dividends and other appropriations we paid during the year. The table below does not include the final
dividend proposed after the year end because it is not accrued in these financial statements. The impact of shares issued in lieu of
dividends is shown separately in note 38.
2013
£m
2012
£m
Ordinary dividends declared and charged to equity in the year
Final 2012 – 9.00 pence per share, paid on 17 May 2013 264 —
Final 2011 – 16.00 pence per share, paid on 17 May 2012 — 465
Interim 2013
–
5.6 pence, paid on 15 November 2013 165 —
Interim 2012
–
10.00 pence per share, paid on 16 November 2012 — 292
429 757
Preference dividends declared and charged to equity in the year 17 17
Coupon payments on direct capital instruments and fixed rate tier 1 notes 92 73
538 847
Subsequent to 31 December 2013, the directors proposed a final dividend for 2013 of 9.4 pence per ordinary share (2012: 9.0
pence), amounting to £277 million (2012: £264 million) in total. Subject to approval by shareholders at the AGM, the dividend will
be paid on 16 May 2014 and will be accounted for as an appropriation of retained earnings in the year ending 31 December 2014.
Interest payments on the direct capital instruments issued in November 2004 and the fixed rate tier 1 notes issued in May 2012
are treated as an appropriation of retained profits and, accordingly, are accounted for when paid. Tax relief is obtained at a rate of
23.25% (2012: 24.5%).