RBS 2011 Annual Report Download - page 473

RBS Group 2011 471
Dividend history
Preference dividends
Amount per share 2011
$
2011
£
2010
£
2009
£
2008
£
2007
£
Non-cumulative preference shares of US$0.01
-Series E (redeemed January 2007) (1) —— — — — 0.04
- Series F (1) 1.91 1.19
1.06 1.22 1.04 0.96
- Series G (redeemed January 2007) (1) —— — — — 0.04
- Series H (1) 1.81 1.13 1.03 1.15 0.99 0.91
- Series K (redeemed January 2007) (1) ——
— — — 0.04
- Series L (1) 1.44 0.90 0.86 0.92 0.78 0.72
- Series M (2) —— 0.26 1.02 0.89 0.80
- Series N (2) ——
0.26 1.01 0.88 0.79
- Series P (2) —— 0.25 0.99 0.87 0.78
- Series Q (2) —— 0.27 1.07 0.94 0.84
- Series R (2) ——
0.25 0.97 0.85 0.77
- Series S (2) —— 0.27 1.05 0.92 0.41
- Series T (2) —— 0.29 1.15 1.01 0.23
- Series U (2) ——
2,474 5,019 3,935 —
Non-cumulative convertible preference shares of US$0.01
- Series 1 (1) 91.18 56.87
59.98 60.33 49.66 45.58
Non-cumulative preference shares of €0.01
- Series 1 (2) ——
—49.46 46.53 39.63
- Series 2 (2) —— —46.00 41.79 35.52
- Series 3 (2) ——
—3,125 2,782 —
Non-cumulative convertible preference shares of £0.01
- Series 1 (1) 118.48 73.87
73.87 73.87 73.87 73.87
Non-cumulative preference shares of £1
- Series 1 (2) ——
—81.62 80.73 —
- Series 2 (redeemed April 2009) (2) —— —54.71 — —
Notes:
(1) Classified as subordinated liabilities.
(2) Classified as equity.
The Group has undertaken that, unless otherwise agreed with the European Commission, neither the company nor any of its direct or indirect
subsidiaries (other than companies in the RBS Holdings N.V. group, which are subject to different restrictions) will pay external investors any dividends
or coupons on existing hybrid capital instruments (including preference shares, B shares and upper and lower tier 2 instruments) from 30 April 2010 for
aperiod of two years thereafter ("the Deferral period"), or exercise any call rights in relation to these capital instruments between 24 November 2009
and the end of the deferral period, unless there is a legal obligation to do so. Hybrid capital instruments issued after 24 November 2009 will generally
not be subject to the restriction on dividend or coupon payments or call options.
For further information, see Note 8 on the consolidated accounts.
Ordinary dividends
Ordinary dividends per share for 2007 in the table below were restated for the effect of the rights issue in June 2008 and the capitalisation issue in
September 2008.
Amount per ordinary share and American Depository Share (1) 2011
pence
2010
pence
2009
pence
2008
pence
2007
pence
Interim (2) — ———8.5
Final (3) — — — — 19.3
Total — — — — 27.8
Notes:
(1) Each American Depository Share represents 20 ordinary shares. As discussed under Trading market, the American Depository Shares were issued in October 2007 and consequently did not receive
any dividends prior to the final dividend in respect of 2007.
(2) In 2008, the company issued new ordinary shares by way of a capitalisation issue rather than paying an interim dividend.
(3) Final dividends were proposed in the indicated year and paid in the following year.