Marks and Spencer 2006 Annual Report Download - page 99

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97Marks and Spencer Group plc
Company notes to the financial statements
C1 ACCOUNTING POLICIES
The Company’s accounting policies are given in note 1 of the Group financial statements.
C2 EMPLOYEES
The Company had no employees during the current or prior period. Directors received emoluments in respect of their services to the
Company during the period of £502,000 (last year £401,000). The Company did not operate any pension schemes during the
current or preceding financial year.
C3 AUDITORS’ REMUNERATION
Auditors’ remuneration of £0.3m (last year £0.2m) in respect of the Company’s annual audit has been borne by its subsidiary
Marks and Spencer plc.
C4 INTEREST
2006 2005
£m £m
Bank and other interest receivable –1.7
Dividends on non-equity B shares1(2.5) –
Net interest (payable)/receivable (2.5) 1.7
1Under IAS 32 – ‘Financial Instruments’ dividends on non-equity shares, previously shown as dividends, are now treated as interest payable.
C5 DIVIDENDS
2006 2005 2006 2005
per share per share £m £m
Dividends on equity ordinary shares:
Paid final dividend 7.5p 7.1p 124.3 161.3
Paid interim dividend 4.8p 4.6p 79.8 75.6
12.3p 11.7p 204.1 236.9
Dividends on non-equity B shares1:
Interim dividend –3.36% –1.4
Final dividend –3.78% –1.4
–2.8
204.1 239.7
1Under IAS 32 – ‘Financial Instruments’ dividends on non-equity shares are now treated as part of interest.
In addition, the directors have proposed a final dividend in respect of the financial year ended 1 April 2006 of 9.2p per share
amounting to a dividend of £154.8m. It will be paid on 14 July 2006 to shareholders who are on the Register of Members on
2 June 2006. In line with the requirements of IAS 10 – ‘Events after the Balance Sheet date’, the dividend has not been recognised
in these results.