Barclays 2004 Annual Report Download - page 236

Barclays Bank PLC data
Notes to the accounts
234
(a) Other operating income
2004 2003 2002
£m £m £m
Premium income on insurance underwriting 211 264 178
Net gain on disposal of investment securities 181 73 58
Income/(loss) from the long-term assurance business 58 (33) (51)
Property rentals 915 20
Dividend income from equity shares 17 67
Other income 177 165 152
653 490 364
(b) Administrative expenses – staff costs
2004 2003 2002
£m £m £m
Salaries and accrued incentive payments 4,043 3,441 3,159
Social security costs 339 278 240
Pension costs 160 180 (27)
Post-retirement health care 22 19 15
Other staff costs 434 377 370
4,998 4,295 3,757
(c) Called up share capital
Ordinary shares
The authorised ordinary share capital of the Bank, as at 31st December 2004, was 3,000 million (2003: 3,000 million) ordinary shares of £1 each.
Preference shares
The authorised preference share capital of Barclays Bank PLC, at 31st December 2004, was 150 million (2003: 150 million) preference shares of
US$0.01 each together with 1,000 preference shares of £1 each and 400,000 preference shares of ¤100 each.
The issued preference share capital of Barclays Bank PLC, at 31st December 2004, comprised 1,000 (2003: nil) preference shares of £1 each and
100,000 (2003: nil) preference shares of ¤100 each.
2004 2003
£m £m
Called up share capital, allotted and fully paid
At beginning of year 2,302 2,293
Issued for cash 79
At end of year 2,309 2,302
Called up preference share capital, allotted and fully paid
At beginning of year ––
Issued for cash 7–
At the end of year 7–
Called up share capital 2,316 2,302
Sterling preference shares
1,000 sterling cumulative callable preference shares of £1 each (the ‘Sterling Preference Shares’) were issued on 31st December 2004 at nil premium.
The Sterling Preference Shares entitle the holders thereof to receive sterling cumulative cash dividends out of distributable profits of Barclays
Bank PLC, semi-annually at a rate reset semi-annually equal to the sterling interbank offered rate for six-month sterling deposits.
Barclays Bank PLC shall be obliged to pay such dividends if (1) it has profits available for the purpose of distribution under the Companies Act
1985 as at each dividend payment date and (2) it is solvent on the relevant dividend payment date, provided that a capital regulations condition
is satisfied on such dividend payment date. The dividends shall not be due and payable on the relevant dividend payment date except to the
extent that Barclays Bank PLC could make such payment and still be solvent immediately thereafter. Barclays Bank PLC shall be considered solvent
on any date if (i) it is able to pay its debts to senior creditors as they fall due and (ii) its auditors have reported within the previous six months
that its assets exceed its liabilities.