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83
7. Combined earnings per share
The calculations of combined earnings per share are based on the net profit attributable to ordinary capital divided by the average
number of share units representing the combined ordinary share capital of NV and PLC in issue during the year, after deducting
shares held as treasury stock.
The calculations of diluted earnings per share are based on: (i) conversion into PLC ordinary shares of those shares in a group
company which are convertible in the year 2038, as described in Corporate governance on page 41; and (ii) the effect of share-
based compensation plans, details of which are set out in note 4C on pages 79 to 80.
Combined earnings per share
€
2011
€
2010
€
2009
Basic earnings per share 1.51 1.51 1.21
Diluted earnings per share 1.46 1.46 1.17
Millions of share units
Calculation of average number of share units 2011 2010 2009
Average number of shares: NV 1,714.7 1,714.7 1,714.7
PLC 1,310.2 1,310.2 1,310.2
Less shares held by employee share trusts and companies (209.0) (212.6) (228.6)
Combined average number of share units 2,815.9 2,812.3 2,796.3
Add shares issuable in 2038 70.9 70.9 70.9
Add dilutive effect of share-based compensation plans 21.3 21.9 22.8
Diluted combined average number of share units 2,908.1 2,905.1 2,890.0
Calculation of earnings
€ million
2011
€ million
2010
€ million
2009
Net profit 4,623 4,598 3,659
Non-controlling interests (371) (354) (289)
Net profit attributable to ordinary capital 4,252 4,244 3,370
8. Dividends on ordinary capital
Dividends are recognised on the date that the shareholder’s right to receive payment is established. This is generally the
date when the dividend is declared.
Dividends on ordinary capital during the year
€ million
2011
€ million
2010
€ million
2009
NV dividends (1,368) (1,270) (1,203)
PLC dividends (1,119) (1,039) (912)
(2,487) (2,309) (2,115)
Four quarterly interim dividends were declared and paid during 2011. Dividends declared totalled €0.90 (2010: €0.83) per NV ordinary
share and £0.78 (2010: £0.71) per PLC ordinary share. Dividends paid totalled €0.88 (2010: €0.82) per NV ordinary share and £0.77
(2010: £0.71) per PLC ordinary share.
Quarterly dividends of €0.225 per NV ordinary share and £0.1879 per PLC ordinary share were declared on 1 February 2012, to be
payable in March 2012. See note 25 ‘Events after the balance sheet date’ on page 108.
Unilever Annual Report and Accounts 2011
Financial statements