BTPLC Annual Report 2006 - Financial Review

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DIVIDENDS

	The Board recommends a final dividend of 7.6 pence per share (2005: 6.5 pence per share) to shareholders, amounting to £632 million (2005: £551 million). This will be paid, subject to shareholder approval, on 11 September 2006 to shareholders on the register on 18 August 2006. When combined with the 2006 interim dividend of 4.3 pence per share, the total dividend proposed for the 2006 financial year is 11.9 pence per share, totalling £993 million (2005: £883 million). This compares to 10.4 pence in the 2005 financial year, an increase of 14%. Dividends paid in the 2006 financial year were £912 million (2005: £786 million) and have been presented as a deduction in shareholders’ equity. We continue with our progressive dividend policy. We expect our pay out ratio to rise to around two-thirds of underlying earnings by the 2008 financial year.



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