Cathay Pacific 2003 Annual Report Download - page 47

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45
Notes to the Accounts – Profit and Loss Account
Cathay Pacific Airways Limited Annual Report 2003
7. DIVIDENDS
2003 2002
HK$M HK$M
2003 interim dividend paid on 2nd October 2003 of HK¢3 per share
(2002: HK¢16 per share) 100 534
2003 final dividend proposed on 10th March 2004 of HK¢17 per share
(2002: HK¢28 per share) 568 935
2003 special dividend proposed on 10th March 2004 of HK¢28 per share 936
-
1,604 1,469
On 5th May 2003, the Board of Directors revised the 2002 final dividend from HK¢56 per share, as originally
proposed on 5th March 2003, to HK¢28 per share in order to conserve cash in response to the business
downturn following the SARS outbreak. The revised 2002 final dividend proposal of HK¢28 per share, which
totals HK$935 million was subsequently approved by shareholders on 14th May 2003 and was paid on
2nd June 2003.
8. EARNINGS PER SHARE
Basic earnings per share and diluted earnings per share are calculated by dividing the profit attributable to
shareholders of HK$1,303 million (2002: HK$3,983 million) by the daily weighted average number of shares in
issue throughout the year of 3,338 million (2002: 3,333 million) shares and 3,357 million (2002: 3,356 million)
shares respectively with the latter adjusted for the effects of the share options.
2003 2002
Million Million
Weighted average number of ordinary shares used in calculating
basic earnings per share 3,338 3,333
Deemed issue of ordinary shares for no consideration 19 23
Weighted average number of ordinary shares used in calculating
diluted earnings per share 3,357 3,356