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Notes to the Consolidated Financial Statements
30 June 2013
74 BRADKEN LIMITED ANNUAL REPORT 2013
Notes to the consolidated financial statements
30 June 2013
(continued)
23 Reserves and retained profits (continued)
(iv) Available-for-sale financial assets reserve
(v) Transactions with non-controlling interests
24 Dividends
2013
2012
$'000
$'000
(a) Ordinary shares
36,255
33,988
33,848
32,492
70,103
66,480
58,598
16,461
11,505
50,019
70,103
66,480
(b) Dividends not recognised at year end
30,463
36,255
(c) Franked dividends
2013
2012
2013
2012
$'000
$'000
$'000
$'000
5,917
34,121
5,917
34,121
The above amounts represent the balance of the franking account as at the end of the financial year, adjusted for:
(a) franking credits that will arise from the payment of the amount of the provision for income tax
(b) franking debits that will arise from the payment of dividends recognised as a liability at the reporting date, and
(c) franking credits that will arise from the receipt of dividends recognised as receivables at the reporting date.
This reserve is used to record the differences described in note 1(b)(iii) which may arise as a result of transactions with non-
controlling interests that do not result in a loss of control.
Interim dividend for the year ended 30 June 2013 of 20.0 cents (2012: 19.5 cents) per fully paid
share paid 14 March 2013 (2012: 19 March 2012)
Fully franked based on tax paid @ 30%
Total dividends provided for or paid
Dividends paid in cash or satisfied by the issue of shares under the dividend reinvestment plan
during the years ended 30 June 2012 and 30 June 2013 were as follows:
Final dividend for the year ended 30 June 2012 of 21.5
cents (2011: 21.0 cents) per fully paid
share paid on 4 September 2012 (2011: 19 September 2011)
Fully franked based on tax paid @ 30%
Amounts are reversed when the classification of the investment changes to an associate.
Changes in the fair value and exchange differences arising on translation of investments, such as equities classified as available-
for-sale financial assets, are recognised in other comprehensive income as described in note 1(m) and accumulated in a
separate reserve within equity. Amounts are reclassified to profit or loss when the associated assets are sold or impaired.
Satisfied by issue of shares
In addition to the above dividends, since year end the directors have recommended the payment
of a final dividend of 18.0 cents per fully paid ordinary share franked to 100%, (2012: 21.5 cents
franked to 100%) based on tax paid at 30%. The aggregate amount of the proposed dividend
expected to be paid on 13 September 2013 out of retained profits at 30 June 2013, but not
recognised as a liability at year end, is
Paid in cash
Franking credits available for subsequent financial years based
on a tax rate of 30% (2012: 30%)
The impact on the franking account of the dividend recommended by the directors since year end, but not recognised as a liability
at year end, will be a reduction in the franking account of $13,056,000 (2012: $15,538,000).
The franked portions of the final dividends recommended after 30 June 2013 will be franked out of existing franking credits or out
of franking credits arising from the payment of income tax in the year ending 30 June 2014.
Parent entity
The consolidated amounts include franking credits that would be available to the parent entity if distributable profits of
subsidiaries were paid as dividends.
Consolidated
Page 74
Bradken Limited