Forecast and Financial Ratios

Ratios201620152014 201320122011
Operating margin41%45%38%35%28%27%
EPS1 074.8 1 051.0 742.4592.1351.8400.8
HEPS1 063.2 1 026.3 735.0644.6473.2562.4
PE15.3 12.2 16.315.222.214.9
Dividend yield
(ordinary)
3.4% 4.1% 3.3%3.9%3.2%2.9%
Dividend yield
(total)
3.4% 4.9% 4.0%4.5%3.2%2.9%
EBITDA1 074 1 123 803669490436
ROE28% 30% 26%23%16%19%

Dividend Policy

Existing dividend policy: 2.5x – 1.5x cover range.

Ordinary dividend: 8% to 560 cents per share (2015: ordinary 520 cents; special 105 cents)

Dividend Declared
YearDividend (cents) 
2009192 
2010210 
2011250 
2012250 
2013400(350 plus 50 special dividend)
2014480(400 plus 80 special dividend)
2015625(520 plus 105 special dividend)
2016560(520 no special dividend)
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