Experian 2007 Annual Report Download - page 88

Introduction | Business review | Governance | Financial statements
10. Discontinued operations (continued)
Earnings before interest and taxation of discontinued businesses are stated after charging:
2007 2006
US$m US$m
Cost of sales 3,589 7,034
Operating expenses:
Distribution costs 1,361 2,335
Administrative expenses 306 921
Operating expenses 1,667 3,256
The cash flows attributable to discontinued operations comprise:
From operating activities 705 539
From investing activities (168) (711)
From financing activities (3) (7)
Exchange and other movements 16 (9)
Less: cash held by Home Retail Group at demerger (note 30(b)) (518) –
Net increase/(decrease) in cash and cash equivalents in discontinued operations 32 (188)
11. Dividend
2007 2007 2006 2006
cents cents
per share US$m per share US$m
Amounts recognised and paid as distributions to equity holders during the year:
Interim 5.5 55 17.2 147
Final 40.3 346 36.6 361
Ordinary dividends paid on equity shares 45.8 401 53.8 508
Dividend in specie relating to the demerger of Home Retail Group (note 30(b)) 5,627 –
Dividend in specie relating to the demerger of Burberry Group plc –513
Full year dividend for the year ended 31 March 2007 17.0
Adividend of 11.5 cents per Ordinary share will be paid on 27 July 2007 to shareholders on the register at the close of business on 29 June 2007
and is not included as a liability in these financial statements.
Unless shareholders elect by 29 June 2007 to receive US Dollars, their dividends will be paid in Sterling at a rate per share calculated on the basis of
the exchange rate from US Dollars to Sterling on 6 July 2007.
Pursuant to the Income Access Sharearrangements put in place as part of the demerger, shareholders in Experian Group Limited are able to elect to
receive their dividends from a UK source (the ‘IAS election’). Shareholders who held 50,000 or fewer Experian shares (i) on the date of admission of
the Company’sshares to the London Stock Exchange and (ii) in the case of shareholders who did not own shares at that time, on the first dividend
recorddate after they became shareholders in the Company,unless they elect otherwise, will be deemed to have elected to receive their dividends
under the IAS arrangements. Shareholders who hold more than 50,000 shares and who wish to receive their dividends from a UK source must
make an IAS election. All elections remain in force indefinitely unless revoked.
The Experian Group Limited Exployee Share Trust and the GUS ESOP Trust have waived their entitlement to dividends in the amount of US$4m
(2006: US$7m). The GUS ESOP Trust did not waive its entitlement to the dividend in specie.
The dividends in respect of the year ended 31 March 2006 were received by shareholders of GUS plc. The final dividend paid in August 2006 and
the dividend in specie relating to the demerger of Home Retail Group were received by shareholders of GUS plc.
Notes to the Group financial statements
for the year ended 31 March 2007
86 |Experian Annual Report2007