Capital and reserves — Group and Company
See Consolidated Statement of changes in equity and Company Statement of Changes in Equity.
The translation reserve comprises all foreign exchange differences arising from the translation of foreign operations, as well as from the translation of liabilities that hedge the Group's net investment in foreign subsidiaries.
The merger reserve has arisen under Section 612 Companies Act 2006 and is a non-distributable reserve.
|Number of ordinary shares|
|In issue at 1 April||116,747,887||116,174,086|
|In issue at 31 March — fully paid||120,294,486||116,747,887|
The total number of shares issued during the year was 3,546,599 for a consideration of £0.3m (2016: 573,801 shares for £0.2m). These were settled in cash other than issues of 1,050,044 shares from the deferred equity award scheme due to the early retirement of Jim Barker and Thomas Tan which were issued for nil cost.
In FY2016, all shares were issued for cash, excluding 29,350 shares for £0.3m as part of the consideration of the acquisition of Kuhlmann (see note 32).
|Allotted, called up and fully paid|
|Ordinary shares of 5p each||6,014||5,837|
The holders of ordinary shares are entitled to receive dividends as declared from time to time and are entitled to one vote per share at meetings of the Company.
During the year the following dividends were recognised and paid by the Group:
|Final paid 2016 — 2.00p (2015: 1.50p) per qualifying ordinary share||2,376||1,743|
|Interim paid 2016 — 0.80p (2015: 0.60p) per qualifying ordinary share||934||697|
After the balance sheet date a final dividend of 2.50p per qualifying ordinary share (2016: 2.00p) was proposed by the Directors and an interim dividend of 1.00p (2016: 0.80p) was paid in April 2017.
|Final proposed 2017 — 2.50p (2016: 2.00p) per qualifying ordinary share||3,007||2,376|
|Interim paid 2017 — 1.00p (2016: 0.80p) per qualifying ordinary share||1,203||934|
Subject to Shareholder approval at the Annual General Meeting which is to be held on 27 July 2017, the final dividend will be paid on 13 October 2017 to Members on the register at the close of business on 15 September 2017. The ordinary shares will become ex-dividend on 14 September 2017.