RWS Annual Report 2022 web - Flipbook - Page 126
Notes to the Consolidated Financial Statements (continued)
10. DIVIDENDS TO SHAREHOLDERS
Accounting policy
Dividends payable to the Parent Company’s shareholders are recognised as a liability in the Group’s financial
statements in the period in which dividends are approved by the Parent Company’s shareholders.
Final ordinary dividend for the year ended 30 September 2021 was 8.5p (2020: 7.5p)
Interim dividend, paid 22 July 2022 was 2.25p (2021: 2.00p paid 16 July 2021)
2022
£m
2021
£m
33.1
28.2
8.8
7.8
41.9
36.0
The Directors recommend a final dividend in respect of the financial year ended 30 September 2022 of 9.5 pence
per ordinary share, to be paid on 24 February 2023 to shareholders who are on the register at 27 January 2023. This
dividend is not reflected in these financial statements as it does not represent a liability at 30 September 2022. The final
proposed dividend will reduce shareholders’ funds by an estimated £37.0m.
11. EARNINGS PER SHARE
Accounting policy
Basic earnings per share
Basic earnings per share is calculated using the Group’s profit after tax and the weighted average number of ordinary
shares in issue during the year.
Diluted earnings per share
Diluted earnings per share is calculated by adjusting the basic earnings per share for the effects of share options and
awards granted to employees. These are included in the calculation when their effects are dilutive.
Adjusted earnings per share
Adjusted earnings per share is a trend measure, which presents the long-term profitability of the Group, excluding the
impact of specific transactions that management considers affects the Group's short-term profitability. The Group presents
this measure to assist investors in their understanding of trends. Adjusted earnings is the numerator used for this measure.
Adjusted earnings and adjusted earnings per share are therefore stated before amortisation of acquired intangibles,
acquisition costs, share based payment expenses and exceptional items, net of any associated tax effects.
The reconciliation between the basic and adjusted earnings per share is as follows:
126
2021
Basic earnings
per share
pence
2022
Diluted earnings
per share
pence
2021
Diluted
earnings
per share
pence
2022
£m
2021
£m
2022
Basic earnings
per share
pence
Profit for the year
62.7
41.2
16.1
10.9
16.0
10.9
Adjustments:
Amortisation of acquired intangibles
Acquisition costs
34.4
2.1
34.4
11.2
Share based payments expense
Net gain of debt modification
Exceptional items
Tax effect of adjustments
Tax adjustments in respect of prior years
3.2
0.3
12.5
(10.0)
(1.6)
1.4
0.3
14.1
(7.3)
(4.5)
Adjusted earnings
103.6
90.8
26.6
23.8
26.5
23.8
2022
Number
2021
Number
Weighted average number of ordinary shares in issue for basic earnings
Dilutive impact of share options
389,374,854
1,469,514
378,460,314
648,504
Weighted average number of ordinary shares for diluted earnings
390,844,368
379,108,818
RWS — Annual Report 2022
NOTES TO THE CONSOLIDATED STATEMENTS
