Integrated Reports Senwesbel Consolidated Financial Statements 2018 - Page 54

22. EARNINGS PER SHARE AND DIVIDENDS 22.1 EARNINGS PER SHARE The following calculations are based on a weighted average number of 116 310 567 (2017: 116 409 842) shares. The earnings were calculated on profit attributable to shareholders. 22.1.1 22.1.2 22.1.3 Earnings per share is based on a profit of R164 million (2017: R89 million) attributable to ordinary shares. Normalised headline earnings per share is based on a profit of R182 million (2017: R97 million). Normalised headline earnings is HEPS as defined by the JSE, and adjusted with the following: 1. Impairments on investments/loans of capital nature; 2. Restructuring costs; 3. Profit/(loss) on foreign exchange on capital loans; 4. Expenses not related to operational activities and which in nature is abnormal to the company; 5. Legal/consultation fees relating to business transactions (i.e. M&A’s). Reconciliation between earnings and normalised headline earnings is as follows: GROUP 2018 R’m 2017 R’m 164 89 Profit from sale of property, plant and equipment - (1) Impairment of property, plant and equipment and intangible assets 5 - (1) - 1 - Earnings per statement of comprehensive income Adjustments: Gains on the disposal of investment in joint venture Impairment of goodwill -* -* 169 88 Impairment of investments and loans 5 9 Restructuring costs 7 - Loss on foreign exchange on capital loans** 1 - Legal/consultation fees 1 - Tax effect of adjustments Headline earnings Abnormal/once-off items: (1) - 182 97 Earnings per share (cents) 141,0 76,1 Normalised headline earnings per share (cents) 156,8 83,3 Earnings per share from continued operations (cents) 141,0 76,1 Tax effect of adjustments Normalised headline earnings *Less than R0,5 million **The company is in the process of winding up its Mauritius activities. 22.2 DIVIDENDS PAID AND PROPOSED COMPANY 2018 R’m 2017 R’m Final dividend 2017 – 15 cents (2016 – 13 cents) 17 15 Interim dividend 2018 - 19 cents (2017 - 14 cents) 22 16 Total dividends paid 40 31 22 17 Declared and paid during the year: Dividends on ordinary shares: Proposed for approval at the annual general meeting (not recognised as a liability as at 30 April) Dividends on ordinary shares: Final dividend 2018 – 19 cents (2017 - 15 cents) 53 SENWESBEL ANNUAL FINANCIAL STATEMENTS 2018 Senwesbel Limited Reg no: 1996/017629/06