RBS 2012 Annual Report Download - page 524

522
Shareholder information continued
Dividend history
Preference dividends
Amount per share 2012
$
2012
£
2011
£
2010
£
2009
£
2008
£
Non-cumulative preference shares of US$0.01
- Series F (1) 1.91 1.21 1.19 1.06 1.22 1.04
- Series H (1) 1.81 1.14 1.13 1.03 1.15 0.99
- Series L (1) 1.44 0.91 0.90 0.86 0.92 0.78
- Series M (2) 1.20 0.75 — 0.26 1.02 0.89
- Series N (2) 1.19 0.74 — 0.26 1.01 0.88
- Series P (2) 1.170.73 — 0.25 0.99 0.87
- Series Q (2) 1.270.79 — 0.27 1.07 0.94
- Series R (2) 1.150.72 — 0.25 0.97 0.85
- Series S (2) 1.240.77 — 0.27 1.05 0.92
- Series T (2) 1.36 0.85 — 0.29 1.15 1.01
- Series U (2) 3,820 2,406 — 2,474 5,019 3,935
Non-cumulative convertible preference shares of US$0.01
- Series 1 (1) 91.18 57.86 56.87 59.98 60.33 49.66
Non-cumulative preference shares of €0.01
- Series 1 (2) 72.17 44.65 — — 49.46 46.53
- Series 2 (2) 68.29 42.25 — — 46.00 41.79
- Series 3 (2) 4,547 2,813 — — 3,125 2,782
Non-cumulative convertible preference shares of £0.01
- Series 1 (1) 119.4073.87 73.87 73.87 73.87 73.87
Non-cumulative preference shares of £1
- Series 1 (2) 144.8689.62 — — 81.62 80.73
- Series 2 (redeemed April 2009) (2) —— — — 54.71 —
Notes:
(1) Classified as subordinated liabilities.
(2) Classified as equity.
On 26 November 2009, RBS entered into a State Aid Commitment Deed
with HM Treasury containing commitments and undertakings that were
designed to ensure that HM Treasury was able to comply with the
commitments to be given by it to the European Commission for the
purposes of obtaining approval for the State aid provided to RBS. As part
of these commitments and undertakings, RBS agreed not to pay
discretionary coupons and dividends on its existing hybrid capital
instruments for a period of two years. This period commenced on 30 April
2010 for RBS Group instruments and ended on 30 April 2012; the two
year deferral period for RBS Holdings N.V. instruments commenced on 1
April 2011.
On 4 May 2012, RBS determined that it was in a position to recommence
payments on RBS Group instruments. Discretionary dividends on RBSG
non-cumulative preference shares and discretionary distributions on
RBSG innovative securities payable after 4 May 2012 have been paid.
Future coupons and dividends on RBSG hybrid capital instruments will
only be paid subject to, and in accordance with, the terms of the relevant
instruments.
For further information, see Note 7 on the consolidated accounts.
Ordinary dividends
The company has not paid an ordinary dividend since 2007. In 2008, the
company issued new ordinary shares by way of a capitalisation issue
rather than paying an interim dividend.