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105 Qantas Annual Report 2009
Notes to the Financial Statements
for the year ended 30 June 2009
9. Dividends
QANTAS
Dividends declared and paid in the current and prior year by Qantas are:
Type
2009
2009 interim 6.0 117 8 April 2009 30 100
2008 final 17.0 322 1 October 2008 30 100
Total amount 23.0 439
2008
2008 interim 18.0 342 2 April 2008 30 100
2007 final 15.0 298 26 September 2007 30 100
Total amount 33.0 640
No final dividend will be paid in relation to the year ended 30 June 2009.
As at 30 June 2009, Qantas does not have any franking credits available for distribution (2008: $162 million available) due to the impact of expected tax
refunds. Qantas must obtain $17 million of franking credits via future tax payments and/or franked dividends before further franking credits obtained are
available for distribution.
The ability to utilise the franking credits is dependent upon there being sufficient available profits to declare dividends.
QANTAS GROUP
In addition to dividends of $439 million (2008: $640 million) declared to Qantas shareholders, $5 million (2008: $1 million) of dividends were declared to
minority interest shareholders.
10. Cash and Cash Equivalents
Qantas Group Qantas
2009 2008 2009 2008
$M $M $M $M
Cash balances 336 172 129 3
Cash at call 279 5 273 36
Short-term money market securities and term deposits 3,002 2,422 3,002 2,422
3,617 2,599 3,404 2,461
Short-term money market securities of $197 million (2008: $164 million) held by the Qantas Group are pledged as collateral under the terms of certain
operational financing facilities when underlying unsecured limits are exceeded. The collateral cannot be sold or repledged in the absence of default by Qantas.
The above figures are reconciled to cash at the end of the financial year as shown in the Cash Flow Statements as follows:
Balances as above 3,617 2,599 3,404 2,461
Bank overdrafts (Note 21) – – – (20)
Balances per Cash Flow Statements 3,617 2,599 3,404 2,441
Total Amount
$M
Date of Payment
Franked Tax Rate for
Franking Credit
%
Percentage Franked
%
Cents per Share