Holiday Inn 2007 Annual Report Download - page 67

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GROUP FINANCIAL
STATEMENTS
Notes to the Group financial statements 65
8 DIVIDENDS PAID AND PROPOSED
2007 2006
pence per pence per 2007 2006
share share £m £m
Paid during the year:
Final (declared in previous year) 13.3 10.7 47 46
Interim 5.7 5.1 17 18
Special interim 200.0 118.0 709 497
219.0 133.8 773 561
Proposed for approval at the Annual General Meeting (not recognised as
a liability at 31 December):
Final 14.9 13.3 44 47
The proposed final dividend is payable on the shares in issue at 28 March 2008.
9 EARNINGS PER ORDINARY SHARE
Basic earnings per ordinary share is calculated by dividing the profit for the year available for IHG equity holders by the weighted average
number of ordinary shares, excluding investment in own shares, in issue during the year.
Diluted earnings per ordinary share is calculated by adjusting basic earnings per ordinary share to reflect the notional exercise of the
weighted average number of dilutive ordinary share options outstanding during the year.
On 1 June 2007, shareholders approved a share capital consolidation on the basis of 47 new ordinary shares for every 56 existing
ordinary shares, together with a special dividend of 200p per existing ordinary share. The overall effect of the transaction was that
of a share repurchase at fair value, therefore no adjustment has been made to comparative data.
Adjusted earnings per ordinary share is disclosed in order to show performance undistorted by exceptional items, to give a more
meaningful comparison of the Group’s performance.
2007 2006
Continuing Continuing
operations Total operations Total
Basic earnings per share
Profit available for equity holders (£m) 210 231 269 405
Basic weighted average number of ordinary shares (millions) 320 320 389 389
Basic earnings per share (pence) 65.6 72.2 69.1 104.1
Diluted earnings per share
Profit available for equity holders (£m) 210 231 269 405
Diluted weighted average number of ordinary shares (millions) 329 329 399 399
Diluted earnings per share (pence) 63.8 70.2 67.4 101.5
2007 2006
millions millions
Diluted weighted average number of ordinary shares is calculated as:
Basic weighted average number of ordinary shares 320 389
Dilutive potential ordinary shares – employee share options 910
329 399
GROUP FINANCIAL
STATEMENTS