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Aviva plc
Annual Report and
Accounts 2007
155
Financial
statements
14 – Earnings per share continued
(iii) The calculation of basic earnings per share uses a weighted average of 2,588 million (2006: 2,469 million) ordinary
shares in issue, after deducting shares owned by the employee share trusts. The actual number of shares in issue at
31 December 2007 was 2,622 million (2006: 2,566 million).
(b) Diluted earnings per share
(i) Diluted earnings per share is calculated as follows:
2007 2006
Weighted Weighted
average average
number number
Total of shares Per share Total of shares Per share
£m m p £m m p
Profit attributable to ordinary shareholders 1,273 2,588 49.2 2,161 2,469 87.5
Dilutive effect of share awards and options – 24 (0.5) – 27 (0.9)
Diluted earnings per share 1,273 2,612 48.7 2,161 2,496 86.6
(ii) Diluted earnings per share on operating profit attributable to ordinary shareholders is calculated as follows:
2007 2006
Weighted Weighted
average average
number number Restated
Total of shares Per share Total of shares Per share
£m m p £m m p
Operating profit attributable to ordinary shareholders 1,376 2,588 53.2 1,731 2,469 70.1
Dilutive effect of share awards and options – 24 (0.5) – 27 (0.7)
Diluted earnings per share 1,376 2,612 52.7 1,731 2,496 69.4
15 – Dividends and appropriations
This note analyses the total dividends and other appropriations we have paid during the year. The table below does
not include the final dividend proposed after the year end because this is not accrued in these financial statements.
The impact of scrip dividends is shown separately in note 35.
2007 2006
£m £m
Ordinary dividends declared and charged to equity in the year
Final 2006 – 19.18 pence per share, paid on 18 May 2007 (Final 2005 – 17.44 pence per share,
paid on 17 May 2006) 492 418
Interim 2007 – 11.90 pence per share, paid on 16 November 2007 (Interim 2006 – 10.82 pence
per share, paid on 17 November 2006) 309 275
801 693
Preference dividends declared and charged to equity in the year 17 17
Coupon payments on direct capital instrument 53 52
871 762
Subsequent to 31 December 2007, the directors proposed a final dividend for 2007 of 21.10 pence per ordinary share
(2006:19.18 pence), amounting to £553 million (2006: £492 million) in total. Subject to approval by shareholders at the
AGM, the dividend will be paid on 16 May 2008 and will be accounted for as an appropriation of retained earnings in the
year ending 31 December 2008.
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 27 February 2008.