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Principal activities
BT
is one of Europe’s leading providers of telecommunications services. Its
principal activities include local, national and international telecommunications
services, higher-value broadband and internet products and services, and IT
solutions. In the UK, we serve over 20 million business and residential customers
with more than 29 million exchange lines, as well as providing network services
to other licensed operators. BT consists principally of three lines of business:
BT Retail, BT Wholesale and BT Global Services. Details of our businesses and
performance are given in the Report of operations and
Financial Review of this Annual Review and summary
financial statement.
Dividends
An interim dividend of 3.2 pence per share (2003: 2.25p) was paid on 9 February 2004. The directors recommend a final dividend of 5.3 pence per share (2003: 4.25p) to be paid on 6 September 2004 to shareholders on the register at the close of business on 6 August 2004. This makes a total dividend for the year of 8.5 pence per share (2003: 6.5p).
Directors
Details of the current members
of the Board are shown under Board of Directors. All served throughout the financial year.
Sir
Christopher Bland, Andy Green, Ian Livingston and John Nelson retire from the
Board by
rotation. Being eligible, they offer themselves for re-election at the Annual
General Meeting. Sir Christopher Bland’s contract is terminable on 12
months’ notice by either the company or Sir Christopher. Andy Green
and Ian Livingston’s contracts are terminable on 12 months’ notice
by the company and six months’ notice by the director. John Nelson’s
contract is for an initial period of three years from 14 January 2002 and
is terminable by either party on three months’ notice.
Annual General
Meeting
The Notice of the Annual General
Meeting to be held at 10.30 am at the Cardiff International Arena, Cardiff on
14 July 2004 is contained in a circular, which is sent to shareholders with this
Review.
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