Notes to the consolidated financial statements

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Year to 31 March

 

2011

2010

Dividends paid on ordinary equity shares (£million):

 

 

– final paid relating to prior year

74

74

– interim paid relating to current year

31

31

Total dividend paid

105

105

Satisfied by:

 

 

– cash (£million)

70

103

– scrip dividend (£million) (note a)

35

2

Total

105

105

The total ordinary dividend is 23.7p (2010 – 22.9p) made up as follows:

 

 

– interim dividend paid

6.8p

6.8p

– final dividend proposed (note b)

16.9p

16.1p

Total

23.7p

22.9p

  1. (a) During the year, shareholders were given the option to receive the final dividend relating to the prior year and the interim dividend relating to the current year in the form of a scrip issue. On 30 July 2010 and 7 January 2011, the Group issued 5,716,625 shares and 1,601,272 shares respectively for scrip at a nominal value per share of 25p and a cash equivalent value of £35 million. Further detail is disclosed in Note 24.
  2. (b) The final dividend proposed for the year of £79 million (2010 – £74 million), based on the number of shares outstanding as at 31 March 2011 has not been recognised as a liability and will be paid, subject to approval by shareholders at the Company’s Annual General Meeting, on 5 August 2011 to shareholders who are on the Register of Members on 1 July 2011.