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Whitehaven Coal Limited : Annual Report 2009
84 NOTES TO THE FINANCIAL STATEMENTS 30 JUNE 2009 26. SHARE CAPITAL AND RESERVES (CONTINUED) d) Hedge reserve The hedging reserve comprises the effective portion of the cumulative change in the fair value of cash flow hedging instruments related to hedged transactions that have not yet occurred. e) Share based payment reserve The share based payment reserve is used to record the value of share based payments provided to director-related entities and senior employees under share option plans. Refer to note 33 for further details of these plans. f) Dividends Consolidated Company In thousands of AUD 2009 2008 2009 2008 Recognised amounts Declared and paid during the year: Final franked dividend for 2008: 1.7c (2007: nil) 6,663 -- 6,663 -- Interim franked dividend for 2009: 2.5c (2008: nil) 10,178 -- 10,178 -- 16,841 -- 16,841 -- Unrecognised amounts Final franked dividend for 2009: 6.0c (2008: 1.7c) 28,583 6,663 28,583 6,663 After the balance sheet date the above dividends were proposed for approval at the Company's Annual General Meeting. These amounts have not been recognised as a liability in the financial statements for the year ended 30 June 2009 but will be brought to account in the year ending 30 June 2010. Dividend franking account Company In thousands of AUD 2009 2008 30 per cent franking credits available to shareholders of Whitehaven Coal Limited for subsequent financial years 102,818 16,849 The above available amounts are based on the balance of the dividend franking account at year-end adjusted for: (a) franking credits that will arise from the payment of the current tax liabilities; and (b) franking debits that will arise from the payment of dividends recognised as a liability at the year end; (c) franking credits that will arise from the receipt of dividends recognised as receivables by the tax consolidated entity at the year-end; and (d) franking credits that the entity may be prevented from distributing in subsequent years. The ability to utilise the franking credits is dependent upon there being sufficient available profits to declare dividends. In accordance with the tax consolidation legislation, the Company as the head entity in the tax-consolidated consolidated entity has also assumed the benefit of $nil (2008: $nil) franking credits.
Annual Report 2008
Annual Report 2010