Notes to the company accounts
12 Post balance sheet event
The directors propose a final dividend of 23.5p per share (totalling approximately £91m) for the period ended 31 July 2008. The dividend will be submitted for formal approval at the Annual General Meeting to be held on 18 November 2008.
In accordance with FRS 21, these financial statements do not reflect this dividend payable, which will be accounted for in shareholders’ equity as an appropriation of retained earnings in the year ending 31 July 2009. During the period ended 31 July 2008, a final dividend of 23.5p per share (totalling £91m) was paid in respect of the dividend declared for the period ended 31 July 2007.
On 1 September 2008 the Company completed the sale of land in Basingstoke for £16m in cash. A further amount of up to £12m will be paid depending on the final terms of such amended planning permission as may be granted.