Cathay Pacific 2001 Annual Report Download - page 41

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Cathay Pacific Airways Limited Annual Report 2001 39
6. TAXATION
(CONTINUED)
Hong Kong profits tax is calculated at 16% (2000: 16%) on the estimated assessable profits for the year. Overseas
taxation is calculated at rates of tax applicable in countries in which the Group is assessable for tax. Tax provisions
are reviewed regularly to take into account changes in legislation, practice and status of negotiations.
7. PROFIT ATTRIBUTABLE TO SHAREHOLDERS
Of the profit attributable to the shareholders, a loss of HK$268 million (2000 profit: HK$3,804 million) has been
dealt with in the accounts of the Company.
8. DIVIDENDS
2001 2000
HK$M HK$M
2000 final dividend of HK¢45 per share (1999 final dividend: HK¢27 per share) 1,508 914
2001 interim dividend of HK¢12.5 per share (2000 interim dividend: HK¢20 per share) 416 674
Dividends for purchased shares written back (9) (3)
1,915 1,585
2000 final dividend of HK¢45 per share was proposed on 7th March 2001 and paid on 1st June 2001.
2001 interim dividend of HK¢12.5 per share was proposed on 8th August 2001 and paid on 3rd October 2001.
On 6th March 2002, the Board of Directors proposed a final dividend of HK¢5 per share for the year ended
31st December 2001.
9. RETAINED (LOSS)/PROFIT FOR THE YEAR
2001 2000
HK$M HK$M
(Loss)/profit for the year retained by
-
The Company (2,183) 2,219
-
Subsidiary companies 849 1,021
-
Associated companies 76 180
(1,258) 3,420
10. EARNINGS PER SHARE
Basic earnings per share and diluted earnings per share are calculated by dividing the profit attributable to
shareholders of HK$657 million (2000: HK$5,005 million) by the daily weighted average number of shares in
issue throughout the year of 3,331 million (2000: 3,372 million) shares and 3,349 million (2000: 3,404 million)
shares respectively with the latter adjusted for the effects of the share options.
2001 2000
Million Million
Weighted average number of ordinary shares used in calculating basic earnings per share 3,331 3,372
Deemed issue of ordinary shares for no consideration 18 32
Weighted average number of ordinary shares used in calculating diluted earnings per share 3,349 3,404
NOTES TO THE ACCOUNTS
-
PROFIT AND LOSS ACCOUNT