Barclays 2009 Annual Report Download - page 247

www.barclays.com/annualreport09 Barclays PLC Annual Report 2009 245
32 Reserves continued
Retained earnings and treasury shares
Retained Treasury
earnings shares Total
£m £m £m
At 1st January 2009 24,208 (173) 24,035
Profit attributable to equity holders of the Parent 9,393 – 9,393
Equity-settled share schemes 298 – 298
Tax on equity-settled share schemes 156 – 156
Other taxes 32 – 32
Net purchases of treasury shares – (47) (47)
Transfer (80) 80 –
Dividends paid (113) – (113)
Conversion of mandatorily convertible notes (230) – (230)
Other 181 – 181
At 31st December 2009 33,845 (140) 33,705
At 1st January 2008 20,970 (260) 20,710
Profit attributable to equity holders of the Parent 4,382 – 4,382
Equity-settled share schemes 463 – 463
Tax on equity-settled share schemes (4) – (4)
Other taxes (52) – (52)
Net purchases of treasury shares – (350) (350)
Transfer (437) 437 –
Dividends paid (2,344) – (2,344)
Repurchase of shares (173) – (173)
Arising on share issue 634 – 634
Issue of warrants 776 – 776
Other (7) – (7)
At 31st December 2008 24,208 (173) 24,035
The treasury shares primarily relate to Barclays PLC shares held by employee benefit trusts in relation to the Executive Share Award Scheme, Performance
Share Plan and Sharepurchase Scheme, to the extent that such shares have not been allocated to employees. These schemes are described in Note 44.
The total number of Barclays shares held in Group employee benefit trusts at 31st December 2009 was 125.1 million (2008: 217.9 million). No dividend
rights have been waived on these shares. The total market value of the shares held in trust, based on the year-end share price of £2.75 (2008: £1.53), was
£344m (2008: £333m). As at 31st December 2009, options over 15.6 million (2008: 19.1 million) of the total shares held in the trusts were exercisable.
The Group operates in a number of countries subject to regulations under which subsidiaries and other operations have to maintain minimum levels of capital.
The current policy of the Group is that the local capital requirements are met, to the greatest possible extent, through the retention of profit. Certain countries
also operate exchange control regulations which limit the amount of dividends that can be remitted to non-resident shareholders.
Retained earnings – Barclays PLC (Parent Company)
Capital
Retained redemption
earnings reserve
£m £m
At 1st January 2009 9,006 394
Profit after tax 125 –
Dividends paid (113) –
Conversion of mandatorily convertible notes (230) –
Other 228 –
At 31st December 2009 9,016 394
At 1st January 2008 8,990 384
Profit after tax 1,193 –
Dividends paid (2,414) –
Arising on share issue 634 –
Repurchase of shares (173) 10
Issue of warrants 776 –
At 31st December 2008 9,006 394
Details of principal subsidiaries held through Barclays Bank PLC are shown in Note 41.