1994 — Page 56

Notes on the Accounts

8. DIVIDENDS AND SPECIAL CASH BONUSES

1994

1993

HK$'000

HK$'000

First special cash bonus of HK$2.68 per share

1,081,754

Second special cash bonus of HK$1.13 per share

456,113

Interim dividend of 20 cents per share

(1993 - 18 cents per share)

Final dividend of 60 cents per share

(1993 - 50 cents per share)

80,728

72,655

242,184

201,820-

1,860,779

274,475

9. EARNINGS PER SHARE

a. The calculation of earnings per share is based on earnings of HK$2,116,804,000

(1993 – HK$351,690,000) and 403,639,413 shares in issue during the two years.

b.

C.

d.

The calculation of earnings per share before exceptional item is based on earnings of HK$406,011,000 (1993 – HK$351,690,000) and 403,639,413 shares in issue during the two years.

The earnings of HK$2,116,804,000 referred to in note a above includes an exceptional item of HK$1,710,793,000 arising from the disposal of two surplus depot sites, which is non-recurring and outside the normal scope of franchised bus operation of the Company. Earnings per share before exceptional item is presented to enable comparison of results from continuing operations.

The calculations of earnings per share and earnings per share before exceptional item are reconciled as follows:

54

Operating profit after taxation Exceptional item

Profit after taxation

HK$'000

406,011

1,710,793

2,116,804

The Kowloon Motor Bus Company (1933) Limited