Cathay Pacific 2011 Annual Report Download - page 38

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We submit our report and the audited accounts for the
year ended 31st December 2011 which are on pages 48
to 97.
Activities
Cathay Pacific Airways Limited (the “Company”) is
managed and controlled in Hong Kong. As well as
operating scheduled airline services, the Company and its
subsidiaries (the “Group”) are engaged in other related
areas including airline catering, aircraft handling and
aircraft engineering. The airline operations are principally
to and from Hong Kong, which is where most of the
Group’s other activities are also carried out.
Details of principal subsidiaries, their main areas of
operation and particulars of their issued capital, and
details of principal associates are listed on pages 96
and 97.
Accounts
The profit of the Group for the year ended 31st December
2011 and the state of affairs of the Group and the
Company at that date are set out in the accounts on
pages 52 to 97.
Dividends
With effect from the year ended 31st December 2011,
the Company intends to pay two interim dividends
instead of an interim dividend and a final dividend.
The second interim dividend will be in lieu of a final
dividend. The total amount of dividends paid to
shareholders for a year will be the same with two interim
dividends as it would have been with an interim dividend
and a final dividend.
The Directors have declared a second interim dividend of
HK$0.34 per share for the year ended 31st December
2011. Together with the first interim dividend of HK$0.18
per share paid on 3rd October 2011, this makes a total
dividend for the year of HK$0.52 per share. This
represents a total distribution for the year of HK$2,046
million. The second interim dividend will be paid on 3rd
May 2012 to shareholders registered at the close of
business on the record date, being Thursday, 5th April
2012. Shares of the Company will be traded ex-dividend
as from Monday, 2nd April 2012.
Directors’ Report
Closure of register of members
The register of members will be closed on Thursday, 5th
April 2012, during which day no transfer of shares will be
effected. In order to qualify for entitlement to the second
interim dividend, all transfer forms accompanied by the
relevant share certificates must be lodged with the
Company’s share registrars, Computershare Hong Kong
Investor Services Limited, 17th Floor, Hopewell Centre,
183 Queen’s Road East, Hong Kong, for registration not
later than 4:30 p.m. on Tuesday, 3rd April 2012.
To facilitate the processing of proxy voting for the annual
general meeting to be held on 9th May 2012, the register
of members will be closed from 4th May 2012 to 9th May
2012, both days inclusive, during which period no transfer
of shares will be effected. In order to be entitled to attend
and vote at the annual general meeting, all transfer forms
accompanied by the relevant share certificates must be
lodged with the Company’s share registrars,
Computershare Hong Kong Investor Services Limited,
17th Floor, Hopewell Centre, 183 Queen’s Road East,
Hong Kong, for registration not later than 4:30 p.m. on
Thursday, 3rd May 2012.
Reserves
Movements in the reserves of the Group and the
Company during the year are set out in the statement of
changes in equity on pages 56 and 57.
Accounting policies
The principal accounting policies are set out on pages 48
to 51.
Donations
During the year, the Company and its subsidiaries made
charitable donations amounting to HK$17 million in direct
payments and a further HK$6 million in the form of
discounts on airline travel.
Fixed assets
Movements of fixed assets are shown in note 12 to the
accounts. Details of aircraft acquisitions are set out on
page 12.