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106
Spirit of Australia
~Notes to the Financial Statements~
for the year ended 30 June 2005
33. Dividends
Dividends recognised in the current year by Qantas are:
Type
Cents
per
Share
Total
Amount
$M Date of Payment
Franked Tax
Rate for
Franking
Credit
%
Percentage
Franked
%
2005
Interim – ordinary 10.0 186.8 6 April 2005 30 100
2004 final ordinary dividend recognised
when declared during the year 9.0 166.1 29 September 2004 30 100
Total amount 19.0 352.9
2004
Interim – ordinary 8.0 145.8 7 April 2004 30 100
2003 final ordinary dividend recognised
when declared during the year 9.0 159.7 1 October 2003 30 100
Total amount 17.0 305.5
SUBSEQUENT EVENTS
Since the end of the financial year ended
30 June 2005, the Directors have
declared the following dividend:
Final – ordinary 10.0 189.8 28 September 2005 30 100
Qantas Group Qantas
Dividend franking amount
2005
$M
2004
$M
2005
$M
2004
$M
Total franking account balance at 30 per cent 80.2 149.3 80.2 144.6
The above amount represents the balance of the franking accounts as at year end, after taking into account adjustments for:
x franking credits that will arise from the payment of income tax payable for the current financial year;
x franking credits that will arise from the receipt of dividends recognised as receivables at the year end; and
x franking credits that may be prevented from being distributed in subsequent years.
The ability to utilise the franking credits is dependent upon there being sufficient available profits out of which a dividend may
be declared.
TAX CONSOLIDATION LEGISLATION
On 1 July 2003, Qantas and its wholly-owned controlled entities adopted the Tax Consolidation legislation which requires a tax-
consolidated group to keep a single franking account. The amount of franking credits available to shareholders of the parent entity
(being the head entity in the tax-consolidated group) disclosed at 30 June 2004 and 30 June 2005 have been measured under the new
legislation as those available from the tax-consolidated group.
34. Segment information
The segmentation of the Qantas Group into three separate business types (Flying Businesses, Flying Services and Associated Businesses)
supported by a corporate centre is progressively being implemented to deliver a broad range of benefits to the business.
Financial reporting system changes to transition Qantas to a segmented model are currently under development. Disclosure of segment
information is therefore provided as follows:
x Qantas, Australian Airlines, QantasLink and Jetstar as the Qantas Group’s Flying Businesses, which are supported by Engineering
Technical Operations and Maintenance Services, Airports and Qantas Freight;
x Qantas Holidays, which comprises the Qantas Holidays segment which forms part of the Associated Businesses portfolio; and
x Catering, which reflects the wholly-owned catering entities within the Airports and Catering segment which forms part of the Flying
Services Businesses.