HSBC 2002 Annual Report Download - page 215

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9 Profit of HSBC Holdings
2002 2001* 2000*
US$m US$m US$m
Profit on ordinary activities before tax.......................................... 5,185 3,211 4,224
Tax credit on profit on ordinary activities..................................... 82 71 36
Profit for the financial year attributable to shareholders ....... 5,267 3,282 4,260
Profit on ordinary activities before tax includes dividend income from subsidiary undertakings for the years ended
31 December as follows:
2002 2001 2000
US$m US$m US$m
Bank.............................................................................................. 1,715 2,156 1,727
Non-bank ...................................................................................... 3,745 1,251 2,598
* The figures for 2001 and 2000 have been restated to reflect the adoption of UK Financial Reporting Standard 19 “Deferred Tax”
details of which are set out in Note 1 on the Financial Statements on pages 195 to 197.
10 Dividends
2002 2001 2000
US$ per
share US$m
US$ per
share US$m
US$ per
share US$m
First interim................................... 0.205 1,932 0.190 1,767 0.150 1,383
Second interim .............................. 0.325 3,069 0.290 2,700 0.285 2,627
0.530 5,001 0.480 4,467 0.435 4,010
Of the first interim dividend for 2002, US$166 million (2001: US$129 million; 2000: US$476 million) was settled
by the issue of shares. Of the second interim dividend for 2001, US$857 million (2000: US$737 million; 1999:
US$468 million) was settled by the issue of shares in 2002.
11 Earnings per ordinary share
Basic earnings per ordinary share was calculated by dividing the earnings of US$6,239 million (2001: US$4,992
million; 2000: US$6,457 million) by the weighted average number of ordinary shares, excluding own shares held,
outstanding in 2002 of 9,339 million (2001: 9,237 million; 2000: 8,777 million).
Diluted earnings per share was calculated by dividing the basic earnings, which require no adjustment for the effects
of dilutive potential ordinary shares, by the weighted average number of ordinary shares outstanding, excluding own
shares held, plus the weighted average number of ordinary shares that would be issued on ordinary conversion of
dilutive potential ordinary shares (being share options outstanding not yet exercised) in 2002 of 9,436 million (2001:
9,336 million; 2000: 8,865 million).
The effect of dilutive share options on the weighted average number of ordinary shares in issue is as follows:
Number of shares (millions)
2002 2001 2000
Average number of shares in issue ............................................... 9,339 9,237 8,777
Savings-related Share Option Plan ............................................... 30 46 57
Executive Share Option Scheme................................................... 11 45
Restricted Share Plan .................................................................... 38 27 17
CCF share options......................................................................... 18 22 9
Average number of shares in issue assuming dilution .................. 9,436 9,336 8,865
Of the total number of employee share options existing at 31 December 2002, none were antidilutive (2001 and
2000: nil).