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Note 14: Dividends

The directors recommended not to declare a dividend for the year ended March 31, 2009. The Company declared a dividend of 5 pence per share (totalling £58 million) for the year ended March 31, 2008. The dividend was paid in July 2008 and was accounted for as a reduction in shareholders’ equity for the year ended March 31, 2009.

The Group reversed £2 million of previously declared dividends, relating to historic unclaimed dividends that are no longer expected to be collected.

Equity dividends

  Group
£ million 2009 2008
Prior year 5 pence dividend per ordinary share paid during the year 58  
Unclaimed dividends (2)  
  56