Barclays 2005 Annual Report Download - page 201

40 Revaluation reserves, retained earnings and other reserves (continued)
Retained earnings – Barclays PLC (parent company)
Capital
Retained redemption
earnings reserve Total
£m £m £m
At 1st January 2005 918 309 1,227
Net profit 2,012 – 2,012
Dividends paid (1,612) – (1,612)
At 31st December 2005 1,318 309 1,627
At 1st January 2004 893 274 1,167
Repurchase of ordinary shares (664) – (664)
Transfer to capital redemption reserve (35) 35 –
Shares issued to 2003 QUEST (1) – (1)
Net profit 2,138 – 2,138
Dividends paid (1,413) – (1,413)
At 31st December 2004 918 309 1,227
Details of principal subsidiaries, held through Barclays Bank PLC, are shown in Note 49.
41 Minority interests
2005 2004
£m £m
At beginning of year(a) 3,330 283
Share of net profit 394 47
Dividend and other payments (318) (20)
Equity issued by subsidiaries 2,273 725
Available for sale reserve:
Net gains from changes in fair value 1n/a
Cash flow hedges:
Net gains from changes in fair value 1n/a
Exchange differences on translating foreign operations 86 (9)
Additions 1,281 2
Disposals 4(124)
Other (48) (10)
At end of year 7,004 894
During the year, subsidiaries issued the following preference shares:
•140,000 preference shares of nominal ¤100 each (Principal amount: ¤1.4bn; £978m) with a 4.75% dividend issued on 15th March 2005.
•100,000 preference shares of nominal US$100 each (Principal amount: US$1.0bn; £551m) with a 6.278% dividend issued on 8th June 2005.
•75,000 preference shares of nominal £100 each (Principal amount: £750m) with a 6% dividend issued on 22nd June 2005.
Note
(a) The 2005 opening balance has been adjusted to reflect the application of IAS 32, IAS 39 and IFRS 4.
Barclays PLC
Annual Report 2005 199
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