Aviva 2006 Annual Report Download - page 145

Overview Business review Governance Financial statements Other information
Aviva plc
Annual Report and Accounts 2006 141
13 – Earnings per share continued
(b) Diluted earnings per share
Diluted earnings per share is calculated as follows:
2006 2005
Weighted Weighted
average average
number number
Total of shares Per share Total of shares Per share
£mm p£mm p
Profit attributable to ordinary shareholders 2,161 2,469 87.5 1,721 2,340 73.5
Dilutive effect of share awards and options – 27 (0.9) – 20 (0.6)
Diluted earnings per share 2,161 2,496 86.6 1,721 2,360 72.9
Diluted earnings per share on operating profit attributable to ordinary shareholders is 86.0 pence (2005: 60.0 pence).
14 – Dividends and appropriations
2006 2005
£m £m
Ordinary dividends declared and charged to equity in the year
Final 2004 – 16.00 pence per share, paid on 17 May 2005 –364
Interim 2005 – 9.83 pence per share, paid on 17 November 2005 –234
Final 2005 – 17.44 pence per share, paid on 17 May 2006 418 –
Interim 2006 – 10.82 pence per share, paid on 17 November 2006 275 –
693 598
Preference dividends declared and charged to equity in the year 17 17
Coupon payments on direct capital instrument 52 42
762 657
Subsequent to 31 December 2006, the directors proposed a final dividend for 2006 of 19.18 pence per ordinary share, £492 million
in total, making a total dividend for the year of 30.00 pence (2005: 27.27 pence).Subject to approval by shareholders at the AGM,
the dividend will be paid on 17 May 2007 and will be accounted for as an appropriation of retained earnings in the year ending
31 December 2007.
Interest on the direct capital instrument issued in November 2004 is treated as an appropriation of retained profits and, accordingly,
it is accounted for when paid. Tax relief is obtained at a rate of 30%.
Irish shareholders who are due to be paid a dividend denominated in euros will receive a payment at the exchange rate prevailing
on 28 February 2007.