BT 2003 Annual Report Download - page 98

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13. Minority interests
2003
£m
2002
£m
2001
£m
Minority interests in profits:
Group 476
Associates 816 121
Total minority interests 12 23 127
14. Dividends 2003
pence
per share
2002
pence
per share
2001
pence
per share
2003
£m
2002
£m
2001
£m
Interim dividend paid 2.25 – 7.80 194 – 571
Proposed final dividend 4.25 2.00 – 366 173 –
Total dividends 6.50 2.00 7.80 560 173 571
In addition to the final dividend for the year ended 31 March 2002 of £173 million there was a demerger
distribution of £19,490 million, representing the net assets of mmO
2
(including purchased goodwill) as at the date
of demerger. Of the demerger distribution, £9 million represents a cash dividend paid by British
Telecommunications plc to mmO
2
plc as part of the demerger process.
15. Earnings (loss) per share
The basic earnings (loss) per share are calculated by dividing the profit for the financial year attributable to
shareholders by the weighted average number of shares in issue after deducting the company’s shares held by
employee share ownership trusts.
In calculating the diluted earnings (loss) per share, share options outstanding and other potential ordinary
shares have been taken into account.
The weighted average number of shares in the years were: 2003
millions
of shares
2002
millions
of shares
2001
millions
of shares
Basic 8,616 8,307 7,276
Dilutive ordinary shares from share options outstanding and shares held in trust 52 70 107
Total diluted 8,668 8,377 7,383
Options over 177 million shares (2002 – 16 million, 2001 – nil) were excluded from the calculation of the total
diluted number of shares as they were anti-dilutive.
Notes to the financial statements
BT Annual Report and Form 20-F 2003 97