Barclays 2006 Annual Report Download - page 291

Barclays PLC
Annual Report 2006 287
Financial statements
3
(g) Other shareholders’ equity
2006 2005
£m £m
At 1st January 2,490 2,494
Appropriations 44 (4)
At 31st December 2,534 2,490
Included in other shareholders’ equity are:
Issuances of reserve capital instruments which bear a fixed rate of interest ranging between 7.375%-8.55% until 2010 or 2011. After these dates,
in the event that the reserve capital instruments are not redeemed, they will bear interest at rates fixed periodically in advance, based on London or
European interbank rates. These instruments are repayable, at the option of the Bank, in whole on any coupon payment date falling in or after June or
December 2010 or 2011. The Bank may elect to defer any payment of interest on the reserve capital instruments for any period of time. Whilst such
deferral is continuing, neither the Bank nor Barclays PLC may declare or pay a dividend, subject to certain exceptions, on any of its ordinary shares or
preference shares.
Issuance of capital notes which bear interest at rates fixed periodically in advance, based on London interbank rates. These notes are repayable in
each case, at the option of the Bank, in whole on any interest payment date. The Bank is not obliged to make a payment of interest on its capital notes
if, in the preceding six months, a dividend has not been declared or paid on any class of shares of Barclays PLC.
(h) Minority interests
2006 2005
£m £m
At beginning of year 1,578 147
Share of profit after tax 342 177
Dividend and other payments (127) (96)
Equity issued by subsidiaries 233 26
Available for sale reserve: net (loss)/gain from changes in fair value (2) 1
Cash flow hedges: net (loss)/gain from changes in fair value (9) 1
Currency translation differences (316) 85
Additions 20 1,281
Disposals (34) 4
Other –(48)
At end of year 1,685 1,578
(i) Dividends
2006 2005
£m £m
On ordinary shares
Final dividend 730 1,017
Interim dividend 1,234 995
Dividends 1,964 2,012
The 2006 dividend disclosure of £730m relates to the cash payment of the 2005 final dividend made in April 2006. The 2005 final dividend disclosure
of £1,017m relates to the cash payment of the 2004 final dividend made in April 2005.
These dividends are paid to enable Barclays PLC to fund its dividends to its shareholders.
Dividends paid on preference shares amounted to £174m (2005: £74m). Dividends paid on other equity instruments as detailed in Note (g)
amounted to £151m (2005: £143m).