76 Finsbury Food Group Annual Report & Accounts 2017


33. Share Based Payments


Details of Directors share options are set out in Note 6 of the Group’s Financial Statements and details of all share options issued are set out in Note 23 to the Group Financial Statements. During the year 330,301 (2016: 194,404) of the total 544,384 (2016: 423,980) share options granted were issued to employees of the Company. The remaining options were granted to employees of the subsidiary companies with corresponding charges to the relevant profit and loss accounts. The total charge in the financial year to the Company for all share options relating to current and prior years was £1,084,000 (2016: £248,000). Credits relating to options exercised, cancelled or lapsed after vesting have also been passed to the subsidiaries during the year. The charge totalled £151,000 (2016: £47,000) and has resulted in an increase (2016: increase) in the total cost of investments in the Company balance sheet. Details of Directors’ share options are set out in Note 6 of the Group’s Financial Statements.


34. Finance Income and Cost Recognised in the Company Statement of Profit and Loss


2017 £000


Finance income Change in fair value of interest rate swaps Inter-group recharge Bank interest receivable Total finance income


Finance cost Bank interest payable


Interest on interest rate swap agreements Total finance cost Net finance cost


35. Dividends


On 16 December 2016, a final dividend of 1.87p per share was paid to shareholders on the register at the close of business on 18 November 2016, the amount paid was £2,374,822. An interim dividend for the six months to 31 December 2016 of 1.0p per share was paid on 21 April 2017 to shareholders on the register at the close of business on 31 March 2017. The amount paid was £1,270,233.


A final dividend of 2.0p per share has been proposed taking the total dividend to 3.0p per share. Subject to shareholder approval at the Company’s AGM on 22 November 2017, the final dividend will be paid on 22 December 2017 to all shareholders on the register at 24 November 2017.


2016 £000


555 157 1


713


(428) (125) (553) 160


219 124 2


345


(532) (273) (805) (460)


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