CONFIDENTIAL ## 機密
XCC(77)87
Financial Plan: Major Sources of Finance
15
Copy No Page 8
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The financial plan in the Annex provides for the following
major sources of finance:
Table VI
1978
1979
1980
1981
1982 1983 Total
%
$M
$M
$M
$M
$M $M
(i)
New Funds - ESSO
116
31
94
*(6)
*(27) *(21)
187 3.2
(ii)
CLP Retained
90
94
114
187
273 316
1,074 18.3
Earnings
(iii) Long-term Loan
16
35
366
1,117
644 467
2,645 45.0
(ECGD)
(iv)
Development Fund
24
9
56
63
11
74
237
4.0
(v)
Depreciation
157
145
156
176 264
324
1,222
20.8
Other
60
41
102
95 106
107
511
8.7
463
355
888 1,632 1,271 1,267 5,876
*() = Net repayments received by ESSO from
PEPCO (see paragraph 13(d) above) after meeting their commitments to the new generating company (see paragraph 13(b) above).
Financial Plan: Net Return/Dividends
16
Shown in Table VII below are the net returns and the dividends accruing to China Light and Power, PEPCO and the new generating company.
Table VII
$M
1978 1979 1980 1981 1982 1983
$M $M $M
$M
$M
Net Return
CLP
135
151 182
246
302
322
PEPCO
96
97 104
123 130
117
New generating company
13
36 64
124 192
240
244
284
350
493
624
679
Dividends
CLP shareholders
100
116
133
154
178
206
ESSO
57
58 62
74
78
70
New generating company
9
21
38
72 88
83
166
195 233
300 344
359
Total dividends as % of total
net return
68%
69% 66%
61% 55%
53%
CLP only (including its investment
in PEPCO and new generating co.) Dividends as % of CLP's total
net return
53% $1.00
55% 54%
45% 40%
39%
$1.16 $1.33 $1.54 $1.78 $2.06
C.S. 166
Dividends per share
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