Coca-Cola Amatil - Note 26. Dividends

Coca-Cola Amatil 2007 Annual Report

Note 25. Employee Ownership Plans continued
Executive Salary Sacrifice Share Plan

The Executive Salary Sacrifice Share Plan commenced operating in September 2004. The Plan allows Australian executives to voluntarily sacrifice a
nominated proportion of their remuneration. The trustee of the Plan acquires shares to the value of the sacrificed amount and holds those shares for the
benefit of the participant until the shares are withdrawn.

In addition, Australian executives participating in the Company’s annual cash incentive plans are required to sacrifice a proportion of any awards made
under these plans, with an equivalent amount being contributed towards the Executive Salary Sacrifice Share Plan for the acquisition of shares by the
trustee. The trustee holds these shares for the benefit of participants in proportion to their benefits sacrificed.

Details of movements in the share balances under the Plan during the financial year are –

2007 2006
Share movements No. No.

Shares at the end of the financial year

452,518

Shares at the beginning of the financial year

452,518
313,258
(95,645)
670,131
247,200

Purchased

223,551

Distributed to executives

(18,233)

CCA Group CCA Entity

Note 26. Dividends
a) Summary of dividends appropriated during the financial year –

Prior year final dividend1

130.9

130.9
Current year interim dividend2
108.7

108.7

Refer

2007
$M
135.2
116.9
252.1
(14.3)
237.8
146.8
150.7
47.8
198.5
2006

Note

Total dividends appropriated

239.6

Dividends satisfied by issue of shares under the Dividend Reinvestment Plan 7b)

(14.4)
(14.4)
Dividends paid as per the cash flow statements

225.2

b) Dividends declared and not recognised as a liability

Current year final dividend on ordinary shares3

135.2

c) Franking credits4

Balance of the franking account at the end of the financial year

150.0

150.0
Franking credits which will arise from payment of income tax
provided for in the financial statements

27.1

Total franking credits

177.1

1 Paid at 18.0¢ (2006: 17.5¢) per share and fully franked at the Australian tax rate of 30%.
2 Paid at 15.5¢ (2006: 14.5¢) per share and fully franked at the Australian tax rate of 30%.
3 Declared at 20.0¢ (2006: 18.0¢) per share and fully franked at the Australian tax rate of 30%.
4 The franking credits are expressed on a tax paid basis. Accordingly, the total franking credits balance would allow fully franked dividends to be paid equal to $463.2 million (2006: $413.2 million).

The franking credit balance will be reduced by $124.1 million resulting from the final dividend declared for 2007, payable 7 April 2008, and the effect of the
share buy-back (refer Note 38).

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