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Note 13: Dividends

The Directors recommend that no dividend be declared for the year ended 31 March 2010 (2009: £nil). The Company declared a dividend of 5 pence per share (totalling £58 million) for the year ended 31 March 2008. The dividend was paid in July 2008 and was accounted for as a reduction in shareholders’ equity for the year ended 31 March 2009.

In the prior year, 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 2010 2009
Prior year: 5 pence dividend per ordinary share paid during the year 58
Unclaimed dividends   (2)
  56

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