Barclays 2004 Annual Report Download - page 238

Barclays Bank PLC data
Notes to the accounts
236
(c) Called up share capital (continued)
or (b) redeem, purchase, reduce or otherwise acquire any of their respective share capital, other than shares of Barclays Bank PLC held by
Barclays PLC or a wholly-owned subsidiary, until the earlier of (1) the date on which Barclays Bank PLC next declares and pays in full a preference
dividend and (2) the date on or by which all the 4.875% Preference Shares are redeemed in full or purchased by Barclays Bank PLC.
Holders of the 4.875% Preference Shares are not entitled to receive notice of, or to attend, or vote at, any general meeting of Barclays Bank PLC.
Barclays Bank PLC is not permitted to create a class of shares ranking as regards participation in the profits or assets of Barclays Bank PLC in
priority to the 4.875% Preference Shares, save with the sanction of a special resolution of a separate general meeting of the holders of the 4.875%
Preference Shares (requiring a majority of not less than three-fourths of the holders of the 4.875% Preference Shares voting at the separate
general meeting), or with the consent in writing of the holders of three-fourths of the 4.875% Preference Shares.
Except as described above, the holders of the 4.875% Preference Shares have no right to participate in the surplus assets of Barclays Bank PLC.
(d) Dividends
2004 2003 2002
£m £m £m
On ordinary shares
Interim dividends 1,270 697 1,010
Final dividend 977 883 788
2,247 1,580 1,798
These dividends are paid to enable Barclays PLC to fund its dividends to its shareholders and, in 2004, to fund the repurchase by Barclays PLC of
ordinary share capital at a total cost of £699m (2003: total cost of £204m), and to fund £1m (2003: £36m) for the QUEST (see page 136).
(e) Reconciliation of operating profit to net cash flow from operating activities
2004 2003 2002
£m £m £m
Net cash inflow/(outflow) from operating activities of Barclays PLC (see Note 39) 6,089 (2,290) 6,747
Increase/(decrease) in balance due by Barclays Bank PLC to Barclays PLC 33 (89) 56
Net cash inflow/(outflow) from operating activities of Barclays Bank PLC 6,122 (2,379) 6,803
The detailed movements disclosed in Note 39 differ for Barclays Bank PLC in the following respects; net increase in debt securities and equity
shares by £11m (2003: £8m), dividends paid to own shares of £9m (2003: £nil) and other non-cash movements by £(2)m (2003: £(8)m).
(f) Changes in financing during the year
The following table takes account of the Group’s contribution to the Employee Share Option Plan (ESOP) of £54m.
Non- Undated Dated
recourse loan loan Ordinary Preference Share Minority
financing capital capital shares Shares premium interests
£m £m £m £m £m £m £m
Barclays Bank PLC
At beginning of year 4,513 6,310 6,029 2,302 – 5,743 283
Exchange rate and other movements – (161) 44–––(124)
Net cash inflow from financing 4,264 – 55 7 7 788 52
At end of year 8,777 6,149 6,128 2,309 7 6,531 211
(g) Segmental analysis
2004 2003 2002
£m % £m % £m %
By geographical segments(a)
Attributable profit
UK 2,407 73 1,886 69 2,023 90
Other European Union 469 15 547 20 284 13
United States 143 4 179 6 (161) (7)
Rest of the World 260 8 132 5 82 4
3,279 100 2,744 100 2,228 100
Note
(a) For the basis of the geographical analysis, see Analyses by geographical segments and classes of business on page 190.