Tesco 2008 Annual Report Download - page 63

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Tesco PLC Annual Report and
Financial Statements 2008 61
Note 7 Discontinued operation and assets classified as held for sale continued
The table below shows the net assets disposed of and consideration received.
Balance Sheet
31 May
2006
£m
Property, plant and equipment 39
Investment property 17
Investment in subsidiary 4
Investment in joint ventures and associates 10
Deferred tax asset 2
Inventories 7
Trade and other receivables 6
Cash and cash equivalents 4
Bank loans and overdrafts (18)
Trade and other payables (67)
Tax liabilities (1)
Net identifiable assets and liabilities disposed of 3
Consideration received, satisfied in cash 28
Costs associated with disposal (3)
Profit on disposal 22
Non-current assets classified as held for sale
2008 2007
£m £m
Non-current assets classified as held for sale 308 408
The non-current assets classified as held for sale consist mainly of properties held for sale.
Note 8 Dividends
2008 2007 2008 2007
pence/share pence/share £m £m
Amounts recognised as distributions to equity holders in the year:
Final dividend for the prior financial year 6.83 6.10 541 482
Interim dividend for the current financial year 3.20 2.81 251 224
10.03 8.91 792 706
Proposed final dividend for the current financial year 7.70 6.83 605 542
The proposed final dividend was approved by the Board of Directors on 14 April 2008 and is subject to the approval of shareholders at the Annual General
Meeting. The proposed dividend has not been included as a liability as at 23 February 2008, in accordance with IAS 10 ‘Events after the balance sheet
date’. It will be paid on 4 July 2008 to shareholders who are on the register of members on 25 April 2008.