2011 Annual Report (3 April 2012) - Grange Resources

2011 ANNUAL REPORT
77
NOTE 30. RETAINED PROFITS / (LOSSES)
Retained profits / (losses)
31 December 31 December
2011 2010
$’000 $’000
Movements in retained profits / (losses)
were as follows:
Balance at the beginning of
the year / period 231,192 145,951
Net profit for the year / period 216,567 85,241
Dividends paid (23,078) -
Balance at the end of the year / period 424,681 231,192
NOTE 31. DIVIDENDS
31 December 31 December
2011 2010
$’000 $’000
Unfranked interim dividend for the
year ended 31 December 2011
– 2 cents per share(2010: NIL) (23,078) -
Total dividends provided for or paid (23,078) -
NOTE 32. KEY MANAGEMENT PERSONNEL
12 months to 6 months to
31 December 31 December
2011 2010
$’000 $’000
Short-term employee benefits 2,630 1,394
Post-employment benefits 213 81
Long-term benefits 13 13
Termination benefits 130 -
Share-based payments 351 71
Detailed remuneration disclosures are provided in the
remuneration report on pages 37 to 43.
(a)
Equity instrument disclosures relating to
key management personnel
3,337 1,559
(i) Options provided as remuneration and shares
issued on exercise of such options
No options were provided as remuneration or shares issued on
exercise of options during the period.
(a)
Ordinary shares
Interim dividend for the year ended 31 December 2011 of 2 cents
per fully paid share (2010: NIL) paid 13 October 2011. The interim
dividend was declared NIL conduit foreign income.
(b) Dividends not recognised at the end of the
reporting period
In addition to the above dividends, since year end the directors
have recommended the payment of a final unfranked dividend of
3 cents per fully paid ordinary share. The aggregate amount of
the proposed dividend expected to be paid on 27 April 2012 out
of retained earnings at 31 December 2011, but not recognised
as a liability at year end is $34.6 million. This final dividend was
declared NIL conduit foreign income.
DirectorS’ Report
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