Dividends and earnings per share
Year to
Year to
31 March
31 March
2007
2006^
Ordinary dividends - pence per share Interim
10.0
7.6
Final
13.0
10.6
23.0
18.2
Earnings
£'000
£'000
Earnings attributable to shareholders
340 319
315 101
Preference dividends paid
(31 850)
(19 940)
 Earnings attributable to ordinary shareholders
308 469
295 161
Earnings resulting from future dilutive convertible instruments
974
2 675
Diluted earnings attributable to ordinary shareholders
309 443
297 836
Weighted number of shares in issue Weighted total average number of shares in issue during the year
602 052 096
593 166 365
Weighted average number of treasury shares
(38 269 412)
(44 327 451)
 Weighted average number of shares in issue during the year
563 782 684
548 838 914
 Weighted average number of shares resulting from future dilutive potential shares
41 146 215
29 424 371
Weighted average number of shares resulting from future dilutive convertible instruments
8 787 292
17 869 970
Adjusted weighted number of shares potentially in issue
613 716 191
596 133 255
 Earnings per share - pence Basic earnings per share is calculated by dividing the earnings attributable to the ordinary shareholders in Investec plc and Investec Limited by the weighted average number of ordinary shares in issue during the year.
54.7
53.8
Diluted earnings per share - pence Diluted earnings per share is calculated by dividing the earnings attributable to the ordinary shareholders of Investec plc and Investec Limited, adjusted for the effects of dilutive ordinary potential shares, by the weighted average number of shares in issue during the period plus the weighted average number of ordinary shares that would be issued on conversion of the dilutive ordinary potential shares during the year.
50.4
50.0
 Adjusted earnings per share - pence Adjusted earnings per share is calculated by dividing the earnings before goodwill and non-operating items attributable to the ordinary shareholders and after taking into account earnings attributable to perpetual preference shareholders, by the weighted average number of ordinary shares in issue during the year.
53.3
41.9
£'000
£'000
Earnings attributable to shareholders
340 319
315 101
Goodwill
(2 569)
21 356
Profit on disposal of group operations
-
(73 573)
 Preference dividends paid
(31 850)
(19 940)
 Additional earnings attributable to other equity holders*
(5 196)
(12 927)
 Adjusted earnings attributable to ordinary shareholders before goodwill and non-operating items
300 704
230 017
 * In accordance with IFRS, dividends attributable to equity holders is accounted for when a constructive liability arises, i.e. on declaration by the board of directors and approval by the shareholders, where required. Investec is of the view that EPS is best reflected by adjusting for earnings that are attributed to equity instruments (other than ordinary shares) on an accrual basis and therefore adjusts the paid dividend on such instruments to accrued in arriving at adjusted EPS. ^ On 4 September 2006 the group implemented a 5:1 share split of Investec plc and Investec Limited shares. Historical information has been restated for comparative purposes.