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84 BT Group plc
Annual Report 2015
Dividends
he oard is proposin a final dividend to shareholders of .p up 1.
his brins the full ear dividend to 1.p up 1 and copares with
an increase in the 011 full ear dividend of 1.
his ears dividend is at the upper end of our outloo rane reectin
our stron financial perforance this ear. t will be paid subect to
shareholder approval on  epteber 01 to shareholders on the
reister on 1 uust 01.
2013 2014 2015
pence
Dividends per share
Year ended 31 March
Final
Interim
0.0
2.0
4.0
6.0
8.0
10.0
12.0
14.0
3.0
3.4 7.5 10.9
3.9 8.5 12.4
6.5 9.5
15%
14%
ur polic is to pa a proressive dividend.
e have set out our dividend epectations for 011 in our utloo
on pae 0.
&DVKƮRZ
e enerated noralised free cash ow of 0 up 0 or
1 and hiher than our outloo of above .bn.
)UHHFDVKƮRZ
he increase in noralised free cash ow reects favourable worin
capital oveents includin the tiin of  port prorae rihts
paents in the prior ear rowth in  lower ordinar pension
contributions and lower ta and interest paents. hese were partl
oset b hiher net cash capital ependiture due to the tiin of rant
fundin cash receipts.  onsuer delivered a particularl stron cash
ow perforance this ear.
e secured  reier eaue football rihts for a further three ears
and we paid a deposit of 9. e also paid a further 0 for our
eistin  reier eaue football broadcast rihts.
6XPPDULVHGFDVKƮRZVWDWHPHQW
ear ended 1 arch
efore specific ites
2015

01

01

 1 11 1
apital ependiturea11  
Interest  0 9
aationb1  
orin capital oveents 0 0 1
ther non-cash and non-current
liabilities oveents 1 9 
1RUPDOLVHGIUHHFDVKƮRZ 2,830 2,450 2,300
urchases of telecounications
licences  0
ash ta benefit of pension deficit
payments 10  0
pecific ites 1  
5HSRUWHGIUHHFDVKƮRZ 2,782 2,171 2,292
ension deficit paents   
ividends 9  
isposals and acuisitions 10  222
hare bubac prorae 0 0 0
roceeds fro issue of own shares 101  109
Reduction in net debt from
cash ows 1 19 11
et debt at 1 pril 0 9 90
Reduction in net debt from
cash ows 1 19 11
on-cash oveents  0 
1HWGHEWDW0DUFK (5,119) (7,028) (7,797)
a([FOXGLQJSXUFKDVHVRIWHOHFRPPXQLFDWLRQVOLFHQFHVDQGQHWRIJRYHUQPHQWJUDQWV
b ([FOXGLQJFDVKWD[EHQHƬWRISHQVLRQGHƬFLWSD\PHQWV
he net cash cost of specific ites was 1 011 
ainl coprisin restructurin costs of  011 
ladder pricin receipts of  011 nil and a net propert
rationalisation benefit of 1 011 cost of .
ast ear the cash cost of specific ites included paents of 19
relatin to the acuisition of s UK and reland  channels business
and 1 relatin to clais aainst which we have provisions.