Notes 6-10.
- 6. Funding costs
- 7. Taxation expense
- 8. Shareholder tax credits
- 9. Net earnings per share
- 10. Dividends
Back to top6. Funding costs
Included in interest expense above is the net settlement of the group's interest rate swaps. This consisted of $62 million of interest income and $70 million of interest expense (2010: $51 million interest income; $58 million interest expense).
Other interest expense includes $4 million of costs relating to the close out of Crane debt instruments upon acquisition.
Back to top7. Taxation expense
Back to top8. Shareholder tax credits
Back to top9. Net earnings per share
The diluted net earnings per share calculation uses the weighted average number of shares as determined for basic net earnings per share, adjusted for dilutive securities. Capital notes and options are convertible into the company’s shares and are therefore considered dilutive securities for purposes of determining the diluted net earnings per share. Fletcher Building may, at its option, purchase or redeem the capital notes for cash at the principal amount plus any accrued but unpaid interest.
Back to top10. Dividends
On 17 August 2011 the directors declared a dividend of 17 cents per share, payable on 19 October 2011.