bold spirit - ArcelorMittal South Africa

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152 ArcelorMittal South Africa Annual Report 2010 Notes to the group and company annual financial statements continued for the year ended 31 December 2010 Group 2010 Rm 2009 Rm 2010 Rm Company 2009 Rm 11. EARNINGS/(LOSSES) PER SHARE Basic earnings per share is calculated by dividing profit attributable to the owners of the company by the weighted average number of ordinary shares, held by third parties. The weighted average number of shares is calculated taking into account the shares issued as disclosed in the Directors’ Report and note 29. Profit/(loss) attributable to owners of the company (Rm) 1 345 (478) Weighted average number of ordinary shares in issue (thousands) 401 202 423 050 Basic earnings/(loss) per share (cents) 335 (113) Diluted earnings per share is calculated by dividing the profit/loss attributable to the owners of the company by the weighted average number of ordinary shares, held by third parties increased by the number of additional ordinary shares that would have been outstanding assuming the conversion of all outstanding share options representing dilutive potential ordinary shares. Profit/(loss) attributable to owners of the company (Rm) 1 345 (478) – Weighted average number of diluted shares (thousands) 401 532 423 684 Diluted (loss)/earnings per share (cents) 335 (113) The calculation for headline earnings/(loss) per share is based on the basic earnings per share calculation, reconciled as follows: Group Company 2010 Gross Rm 2009 Gross net of tax Rm 2010 Gross Rm 2009 Gross net of tax Rm Profit/(loss) attributable to owners of the company 1 345 (478) Plus IAS16 loss on disposal or scrapping of property, plant and equipment 44 32 29 21 Plus impairment charge against property, plant and equipment 26 26 Less impairment reversal on equity-accounted investments (9) (9) Headline earnings/(loss) 1 377 (440)
153 ArcelorMittal South Africa Annual Report 2010 Group 2010 Rm 2009 Rm 11. EARNINGS/(LOSSES) PER SHARE continued Headline earnings/(loss) per share (cents) – Basic 343 (104) – Diluted 343 (104) The weighted average number of shares used in the computation of diluted earnings per share was determined as follows (thousands): – Shares in issue held by third parties 401 202 401 202 – Weighted average number of shares 401 202 423 050 Adjustments for dilutive impact of the Management Share Trust: – Shares under option 330 634 – Weighted average number of diluted shares (thousands) 401 532 423 684 12. DIVIDEND PER SHARE The dividend distribution for 2010 consists of the following: • Consistent with the group’s dividend policy, no final dividend was declared for the 2009 financial year. • On 28 July 2010, an interim dividend of 150 cents per share (R602 million) for the 2010 financial year was paid to stakeholders on 6 September 2010. The dividend distribution for 2009 consists of the following: • On 29 January 2009, a final dividend of 365 cents per share (R1 627 million) for the 2008 financial year was declared and paid to stakeholders on 16 March 2009. This dividend preceded the 2009 share buy-back arrangement and was based on a weighted average number of 445 752 000 shares. • Consistent with the group’s dividend policy, no interim dividend was declared in 2009.
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Annual Report 2010 bold spirit
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I in brief
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Brand values Our goal is to provide
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Financial features Headline earning
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bold spirit - ArcelorMittal South Africa

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