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10. Equity dividends
2013 2012
£m £m
Declared during the nancial year:
Final dividend for the year ended 31 March 2012: 6.47 pence per share (2012: 6.05 pence per share) 3,193 3,102
Interim dividend for the year ended 31 March 2013: 3.27 pence per share (2012: 3.05 pence per share) 1,608 1,536
Second interim dividend for the year ended 31 March 2013: £nil (2012: 4.00 pence per share) – 2,016
4,801 6,654
Proposed after the balance sheet date and not recognised as a liability:
Final dividend for the year ended 31 March 2013: 6.92 pence per share (2012: 6.47 pence per share) 3,377 3,195
11. Contingent liabilities
2013 2012
£m £m
Performance bonds1174 165
Other guarantees and contingent liabilities 1,856 1,655
Note:
1 Performance bonds require the Company to make payments to third parties in the event that the Company or its subsidiaries do not perform what is expected of them under the terms of any related contracts.
Other guarantees and contingent liabilities
Other guarantees principally comprise the Company’s guarantee of the Group’s 50% share of a AUD 1.7 billion loan facility of its joint venture,
Vodafone Hutchison Australia Pty Limited, and the counter indemnication by the Company of guarantees provided by an indirect subsidiary
of the Company to Piramal Healthcare Limited (‘Piramal’) for INR 89.2 billion (£1,080 million; 2012: £1,096 million). The guarantees to Piramal were
made in respect to its acquisition of approximately 11% shareholding in Vodafone India Limited (‘VIL’) during the 2012 nancial year. The acquisition
agreements dated 10 August 2011 and 28 December 2011 contemplate various exit mechanisms for Piramal including participating in an initial
public offering by VIL or, if such initial public offering has not completed by 18 August 2013 or 8 February 2014 respectively or Piramal chooses not
to participate in such initial public offering, Piramal selling its shareholding to the Vodafone Group in two tranches of 5.485% for an aggregate price
of approximately INR 83 billion (£1.0 billion).
The Company will guarantee the debts and liabilities of certain of its UK subsidiaries at the balance sheet date in accordance with section 479C
of the Companies Act 2006. The Company has assessed the probability of loss under these guarantees as remote.
As discussed in note 21 to the consolidated nancial statements the Company has covenanted to provide security in favour of the trustee of the
Vodafone Group UK Pension Scheme and the Trustees of the Cable & Wireless Worldwide Retirement Plan and THUS Plc Group Scheme.
Legal proceedings
Details regarding certain legal actions which involve the Company are set out in note 21 to the consolidated nancial statements.
165 Vodafone Group Plc
Annual Report 2013
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