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Johannesburg - Clover Industries Limited [JSE:CLR] has announced headline earnings per ordinary share (HEPS) for the six months ended 31 December 2010 are expected to be between 73.11 and 73.29 cents (2009: HEPS 0.9c), it said on Friday.
Earnings per ordinary share for the same period are expected to be between 75.1 cents and 75.5 cents.
"It should be noted that, during the six months to December 31 2009, the preference shares were entitled to 97% of ordinary dividends declared. Earnings per share (EPS) calculations are based on the dividend rights attached to the different classes of shares and accordingly 97% of the earnings during the comparative period accrued to the preference shares," Clover said.
Following the capital restructuring on May 31 2010, the preference shares were no longer entitled to share in ordinary dividends leading to "the very significant increases" in both basic EPS and HEPS for ordinary shares.
The weighted average number of ordinary shares used to calculate the December 31 2009 EPS and HEPS were adjusted to take into consideration the two-for-one subdivision of the ordinary shares effective November 4 2010.
Clover added that it would release its interim results on or about March 14.
Earnings per ordinary share for the same period are expected to be between 75.1 cents and 75.5 cents.
"It should be noted that, during the six months to December 31 2009, the preference shares were entitled to 97% of ordinary dividends declared. Earnings per share (EPS) calculations are based on the dividend rights attached to the different classes of shares and accordingly 97% of the earnings during the comparative period accrued to the preference shares," Clover said.
Following the capital restructuring on May 31 2010, the preference shares were no longer entitled to share in ordinary dividends leading to "the very significant increases" in both basic EPS and HEPS for ordinary shares.
The weighted average number of ordinary shares used to calculate the December 31 2009 EPS and HEPS were adjusted to take into consideration the two-for-one subdivision of the ordinary shares effective November 4 2010.
Clover added that it would release its interim results on or about March 14.
