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Notes to the Financial Statements
26 Dividends
2008 2007
US$m
US$m
Final dividend in respect of 2007 of US¢9.00 (2006: US¢7.00) per share 206.6 160.7
Interim dividend in respect of 2008 of US¢6.00 (2007: US¢4.00) per share 137.7 91.8
344.3 252.5
A final dividend in respect of 2008 of US¢7.00 (2007: US¢9.00) per share amounting to a total of US$157.5 million (2007:
US$206.6 million) is proposed by the Board. The dividend proposed will not be accounted for until it has been approved at the
Annual General Meeting. The amount will be accounted for as an appropriation of revenue reserves in the year ending
31st December 2009.
27 Cash and cash equivalents
2008 2007
US$m
US$m
Bank balances 1,119.0 1,104.0
Bank overdrafts (see Note 22) (1.9 ) (1.1 )
1,117.1 1,102.9
28 Derivative financial instruments
The fair values of derivative financial instruments at 31st December are as follows:
2008 2007
Positive Negative Positive Negative
fair value fair value fair value fair value
US$m US$m US$m US$m
Designated as cash flow hedges
– interest rate swaps 13.8 16.9 8.2 5.0
– cross currency swaps 7.6 – 10.3 –
Designated as fair value hedges
– interest rate swaps 7.8 – – 1.3
– cross currency swaps 78.0 – 16.5 –
Designated as net investment hedges
– forward foreign exchange contracts – – 1.1 –
Not qualified as hedges
– interest rate swaps 0.1 – – –
– cross currency swaps 2.3 – – –
48 Hongkong Land