BT 2014 Annual Report Download - page 148

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145
Financial statements
Financial statements
10. Earnings per share
Basic earnings per share is calculated by dividing the prot after tax attributable to equity shareholders by the weighted average number of shares in
issue after deducting the own shares held by employee share ownership trusts and treasury shares.
In calculating the diluted earnings per share, share options outstanding and other potential shares have been taken into account where the impact
of these is dilutive. Options over 24m shares (2012/13 24m shares, 2011/12 40m shares) were excluded from the calculation of the total diluted
number of shares as the impact of these is antidilutive.
Year ended 31 March 2014 2013 2012
Basic weighted average number of shares (millions) 7,857 7,832 7,763
Dilutive shares from share options (millions) 314 275 310
Dilutive shares from executive share awards (millions) 60 96 128
Diluted weighted average number of shares (millions) 8,231 8,203 8,201
Basic earnings per sharea25.7p 24.8p 22.6p
Diluted earnings per sharea24.5p 23.7p 21.4p
a Restated, see note 1.
The earnings per share calculations are based on prot after tax attributable to equity shareholders of the parent company which excludes
non-controlling interests. Prot after tax attributable to equity shareholders of the parent company was £2,016m (2012/13 £1,946m,
2011/12 £1,755m) and prot after tax attributable to non-controlling interests was £2m (2012/13 £2m, 2011/12 £1m). Prot attributable
to non-controlling interests is not presented separately in the nancial statements as it is not material.
The group also measures nancial performance based on adjusted earnings per share, which excludes specic items. Adjusted earnings per share
and a reconciliation to basic earnings per share is disclosed on page 185.
11. Dividends
2014 2013 2012
Year ended 31 March
pence
per share £m
pence
per share £m
pence
per share £m
Final dividend in respect of the prior year 6.5 512 5.7 449 5.0 388
Interim dividend in respect of the current year 3.4 269 3.0 235 2.6 201
9.9 781 8.7 684 7.6 589
The Board recommends that a nal dividend in respect of the year ended 31 March 2014 of 7.5p per share will be paid to shareholders on
8September 2014, taking the full year proposed dividend in respect of 2013/14 to 10.9p (2012/13 9.5p, 2011/12 8.3p) which amounts to
approximately £880m (2012/13 £749m, 2011/12 £654m). This dividend is subject to approval by shareholders at the Annual General Meeting
and therefore the liability of approximately £611m (2012/13 £514m, 2011/12£453m) has not been included in these nancial statements.
The proposed dividend will be payable to all shareholders on the Register of Members on 15 August 2014.
The value of £781m (2012/13 £684m, 2011/12 £589m) for the nal and interim dividends is disclosed in the group statement of changes in
equity. This value may dier from the amount shown for equity dividends paid in the group cash ow statement, which represents the actual cash
paid in relation to dividend cheques that have been presented over the course of the nancial year.