National Grid 2006 Annual Report Download - page 32

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The accompanying notes are an integral part of these consolidated financial statements.
32
National Grid USA / Annual Report
Consolidated Statements of Retained Earnings
(In thousands of dollars)
For the years ended March 31,
2006 2005 2004
Retained earnings at beginning of period 980,101$ 648,255$ 388,454$
Net income 562,065 553,698 266,084
Dividends on preferred stock (2,210) (3,461) (5,095)
Dividends on common stock (55,000) (218,100) -
Loss on redemption of preferred stock - - (1,194)
Other (359) (291) 6
Retained earnings at end of period 1,484,597$ 980,101$ 648,255$