267694 EdinburghIT AR 2024 WEB - Flipbook - Page 69
THE EDINBURGH INVESTMENT TRUST PLC / FINANCIAL REVIEW / 67
(c) Deferred tax
Owing to the Company’s status as an investment company, and the Directors’ intention that it continues to meet the conditions
required to maintain that approval in the foreseeable future, no deferred tax has been provided on any capital gains and losses
arising on the revaluation or disposal of investments.
(d) Factors that may affect future tax changes
The Company has cumulative excess management expenses of £510,654,000 (2023: £502,750,000 ) that are available to
offset future taxable revenue. A deferred tax asset of £127,663,574 (2023: £125,687,483) at 25% (2023: 25%) has not been
recognised in respect of these expenses since the Directors believe that there will be no taxable profits in the future against
which deferred tax assets can be offset.
7. RETURN PER ORDINARY SHARE
Return per share is the amount of gain generated for the financial year divided by the weighted average number of ordinary
shares in issue.
The basic revenue, capital and total return per ordinary share is based on each of the returns/loss after taxation and on
159,690,463 (2023: 168,985,796) ordinary shares, being the weighted average number of ordinary shares in issue throughout
the year.
8. DIVIDENDS ON ORDINARY SHARES
Dividends represent the distribution of income to shareholders. The Company pays four dividends a year – three interim and
one final dividend.
2024
2023
pence
£’000
pence
£’000
– third interim paid in respect of previous year
6.70
11,050
6.40
10,934
– final paid in respect of previous year
6.70
11,036
6.40
10,925
– first interim paid
6.70
10,622
6.40
10,783
– second interim paid
6.70
10,317
6.40
10,669
26.80
43,025
25.60
43,311
Dividends paid and recognised in the year:
2024
2023
pence
£’000
pence
£’000
6.70
10,622
6.40
10,783
Dividends payable in respect of the year:
– first interim
– second interim
6.70
10,317
6.40
10,669
– third interim
6.90
10,429
6.70
11,087
6.90
10,429
6.70
11,087
27.20
41,797
26.20
43,626
– proposed final
The proposed final dividend is subject to approval by ordinary shareholders at the AGM.
