Annual Report 2019

Explanatory Notes 30 SEPTEMBER 2019 30. DIVIDENDS COMPANY Sep-19 Sep-18 MUR m MUR m Amounts recognised as distributions to equity holders in the year: Final dividends payable of MUR0.15 per share (2018: MUR0.60) 102.1 408.3 Interim dividends of MUR0.08 per share (2018: MUR0.07 per share) 54.4 47.6 156.5 455.9 The shares held by the Company in Lavastone Ltd were declared as dividend in specie on 14 December 2018 refer to Note 35 for further details. 31. EQUITY Stated Capital COMPANY 2019 & 2018 No of shares Ordinary shares Million MUR m No par value shares 680.5 680.5 The Company has issued 680,522,310 shares of no par value issued at the reporting date. All shares are fully paid and carry equal voting rights. The ordinary shares are classified as equity. Capital Reserves The capital reserves relate to the statutory appropriation of retained earnings and the excess of allowance for credit impairment computed in accordance with the requirements of the Bank of Mauritius over expected credit losses/ provision for impairment computed in accordance with IFRS 9/IAS 39. Actuarial Losses Actuarial losses arise on remeasurement of net defined benefit liability. Remeasurement of the net defined benefit liability, which comprises actuarial gains and losses arising from experience adjustments and changes in actuarial assumptions, the return on plan assets (excluding interest) and the effect of the asset ceiling (if any, excluding interest), is recognised immediately in other comprehensive income in the period in which they occur. Remeasurements recognised in other comprehensive income shall not be reclassified to profit or loss in subsequent periods. Retained Earnings Retained earnings arise from the accumulation of profits from the profit or loss less any dividends payable for the period. It also accounts for any adjustments arising on Group consolidation or transfer to Capital reserves by a subsidiary. Other Reserves Reserves not dealt in above are accounted as other reserves. CIM FINANCIAL SERVICES LTD / ANNUAL REPORT 2019 145