Vodafone 2009 Annual Report Download - page 128

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126 Vodafone Group Plc Annual Report 2009
Notes to the Company nancial statements continued
9. Equity dividends
2009 2008
£m £m
Declared during the financial year:
Final dividend for the year ended 31 March 2008: 5.02 pence per share (2007: 4.41 pence per share) 2,667 2,331
Interim dividend for the year ended 31 March 2009: 2.57 pence per share (2008: 2.49 pence per share) 1,350 1,322
4,017 3,653
Proposed after the balance sheet date and not recognised as a liability:
Final dividend for the year ended 31 March 2009: 5.20 pence per share
(2008: 5.02 pence per share) 2,731 2,667
10. Contingent liabilities
2009 2008
£m £m
Performance bonds 35 30
Credit guarantees – third party indebtedness 5,317 4,208
Other guarantees and contingent liabilities 231 255
Performance bonds
Performance bonds require the Company to make payments to third parties in the event that the Company or its subsidiary undertakings do not perform what is expected
of them under the terms of any related contracts.
Credit guarantees – third party indebtedness
Credit guarantees comprise guarantees and indemnities of bank or other facilities.
During the year ended 31 March 2008, a subsidiary of the Company granted put options exercisable between 8 May 2010 and 8 May 2011 to members of the Essar group
of companies that, if exercised, would allow the Essar group to sell its 33% shareholding in Vodafone Essar to the Group for US$5 billion or to sell between US$1 billion and
US$5 billion worth of Vodafone Essar shares to the Group at an independently appraised fair market value. The Company has guaranteed payment of up to US$5 billion
related to these options.
At 31 March 2009, the Company had also guaranteed debt of Vodafone Finance K.K. amounting to £1,820 million (2008: £1,303 million). This facility expires by March 2011.
Other guarantees and contingent liabilities
Other guarantees principally comprise of a guarantee relating to a commitment to the Spanish tax authorities of £229 million (2008: £197 million).
Legal proceedings
Details regarding certain legal actions which involve the Company are set out in note 33 to the consolidated financial statements.