Annual Report 2009/2010 - Colombo Stock Exchange

NOTES TO THE FINANCIAL STATEMENTS
9 DIVIDEND
For the year ended 31st March
In Rs.'000s
On preference shares - 12.5% (2009 - 12.5%)
2010
43,750
43,750
2009
43,750
43,750
(a) A preference dividend of 12.5% per annum on redeemable cumulative preference shares was paid on 30th
June 2009, 30th September 2009, 31st December 2009 and 31st March 2010.
(b) The board of Directors has recommended the payment of a first and final dividend of Rs.3/- per share for
the year ended 31st March 2010 ( 2009 - Nil) which is to be approved at the Annual General Meeting to be
held on 11th of June 2010. In Accordance with Sri Lanka Accounting Standards No12 - Events after the Balance
Sheet Date (Revised 2006), this proposed dividend has not been recognise as a liability as at 31st March 2010.
Currently, dividends declared by the Company out of exempt profits during the period of the tax holiday and
one year thereafter, are exempt from income tax.
10 EARNINGS PER ORDINARY SHARE
The calculation of earnings per ordinary share of Rs.7.46 (2009 - Rs.0.90) is based on profit for the year
attributable to the ordinary shareholders divided by the weighted average number of ordinary shares
outstanding during the year and without the effects of Rights issue.
Fi F n i n a a n n c c i i a l l S t t a t e m e n t s
The following reflects the income and share data used for the computation of Earnings Per Ordinary Share:
Profit after taxation
Less : Dividends on redeemable cumulative preference shares
Profit attributable to ordinary shareholders (as the Numerator)
Number of ordinary shares used (as the Denominator)
Earnings per ordinary share (Rs.)
640,503
(43,750)
596,753
80,000
7.46
88,813
(43,750)
45,063
50,000
0.90
11 FOREIGN CURRENCY TRANSACTIONS
The principle exchange rates used for conversion of foreign currency transactions/balances are as follows:
Closing Rate
Average Rate
31st March
2010
Rs
2009
Rs
2010
Rs
2009
Rs
US Dollar
114.84
116.28
115.95
111.12
Euro
154.52
154.59
164.51
157.89
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