Tesco 1999 Annual Report Download - page 28
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26 TESCO PLC ANNUAL REPORT 1999
Notes to the financial statements continued
Note 6 Directors’ emoluments and interests
Details of directors’ emoluments and interests are given in the Report of the Directors on Remuneration on pages 12 to 16.
1999 1998
Note 7 Net interest payable £m £m £m £m
Interest receivable and similar income on money market
investments and deposits 22 26
Less interest payable on:
Short term bank loans and overdrafts repayable within five years (46)(52)
Finance charges payable on finance leases (8)(11)
4% unsecured deep discount loan stock 2006 (a) (8)(8)
E.C.S.C. loans 1998-1999 (b) –(1)
103⁄8% bonds 2002 (21)(21)
71⁄2% bonds 2007 (21)(11)
83⁄4% bonds 2003 (17)(18)
51⁄8% bonds 2009 (1)–
Medium term notes (17)–
Interest capitalised 35 31
Share of interest of joint ventures (8)(9)
(112)(100)
(90)(74)
a) Interest payable on the 4% unsecured deep discount loan stock 2006 includes £3m (1998 – £3m) of discount amortisation.
b) E.C.S.C. refers to the European Coal and Steel Community.
1999 1998 1999 1998
Note 9 Dividends Pence per share Pence per share £m £m
Declared interim 1.25 1.18 83 78
Proposed final 2.87 2.69 194 177
4.12 3.87 277 255
1999 1998
Note 8 Taxation £m £m
UK taxation:
Corporation tax at 31.0% (1998 – 31.2%) 257 251
Share of joint ventures (2)(5)
Prior year items (32)(20)
Deferred taxation (see note 21) – current year 51
– prior year 2(8)
230 219
Overseas taxation 79
237 228