Singapore Airlines 2015 Annual Report Download - page 50

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Financial Review
Performance of the Group
(continued)
Dividends
For the financial year ended 31 March 2015, the Board
recommends a final dividend of 17 cents per share. Including
the interim dividend of 5 cents per share paid on 27 November
2014, the total dividend for the 2014/15 financial year will be
22 cents per share. This amounts to a payout of approximately
$257 million based on the number of issued shares as at
31 March 2015. The total ordinary dividend per share of 22 cents
translates to a payout ratio of 69.9 per cent, an increase of
1.2 percentage points compared to the 2013/14 payout ratio
of 68.7 per cent.
Capital Expenditure and Cash Flow of the Group
Capital expenditure was $2,600 million, 1.0 per cent higher than
last year. About 98 per cent of the capital spending was on
aircra, spares and spare engines. Internally generated cash
flow of $3,306 million (+2.6 per cent) was 1.27 times of capital
expenditure. The increase in internally generated cash flow was
primarily from operations, supplemented by higher proceeds
from disposal of aircra, spares and spare engines, partially
oset by lower dividends received from associated and joint
venture companies.
Group Capital Expenditure
2010/11 2011/12 2012/13 2013/14 2014/15
Other Capital Expenditure ($ Million)
Capital Expenditure on Aircra, Spares and Spare Engine ($ Million)
Cash Flow: Capital Expenditure Ratio (Times)
3,000
2,500
2,000
1,500
1,000
500
0
4
3
2
1
0
$ Million Times
Dividend Payout
2010/11 2011/12 2012/13 2013/14 2014/15
Interim Dividend (¢)
Final Dividend (¢)
Special Dividend (¢)
Payout Ratio ($)
150
120
90
60
30
0
80
70
60
50
40
Cents Per Cent
48 PERFORMANCE | Financial Review |