Page 57 - Suncorp_Review

Suncorp Group Limited Annual Report 2010/11 55

3. Earnings per share (EPS)

CONSOLIDATED

2011 2010 $m $m

Proft attributable to ordinary equity holders of the Company (basic) 453 780 Interest expense on reset preference shares (net of tax) – 7 Interest expense on convertible preference shares (net of tax) – 37 Proft attributable to ordinary equity holders of the Company (diluted) 453 824

Number of shares Number of shares

Weighted average number of ordinary shares (basic) 1,273,729,887 1,262,068,396 Effect of conversion of reset preference shares – 18,015,915 Effect of conversion of convertible preference shares – 90,523,478 Weighted average number of ordinary shares (diluted) 1,273,729,887 1,370,607,789

Basic – cents per share 35.56 61.81 Diluted – cents per share 35.56 60.10

4. Dividends

CONSOLIDATED

2011 2010 ¢ per share $m ¢ per share $m

Dividend payments on ordinary shares 1

2010 fnal dividend

(2010: 2009 fnal dividend) 20 254 20 250 2011 interim dividend

(2010: 2010 interim dividend) 15 190 15 190 Total dividends on ordinary shares 35 444 35 440 Dividends not recognised in the statement of fnancial position 1

Since fnancial year end, the 2011 fnal dividend

(2010: 2010 fnal dividend) has been proposed 2 20 255 20 255

Notes

1 All dividends paid, declared and proposed are franked at a 30% tax rate (2010: 30%).

2 The total 2011 fnal dividend proposed but not recognised in the statement of fnancial position is estimated based on the total number of ordinary shares on issue net of treasury shares as at 30 June 2011. The actual amount recognised in the consolidated fnancial statements for the fnancial year ending 30 June 2012 will be based on the actual number of ordinary shares on issue net of treasury shares on the record date.

The franked portion of the proposed dividends will be franked out of existing franking credits or franking credits arising from the payment of income tax. Franking credits available for use in subsequent fnancial years as at 30 June 2011 amount to $740 million (2010: $633 million). The impact on the dividend franking account for the proposed dividends is expected to reduce the account balance by $110 million (2010: $110 million).

The franking credits available for use in subsequent fnancial years is adjusted for: –– franking credits that will arise from the payment of the current tax liabilities

–– franking debits that will arise from the payment of dividends recognised as a liability at fnancial year end

–– franking credits that will arise from the receipt of dividends recognised as receivables by the tax consolidated group at year end; and

–– franking credits that the Company may be prevented from distributing in subsequent years.