Megachem Limited Annual Report 2015 96 Notes to the Financial Statements 31 December 2015 8. Dividends (cont’d) In respect of the current year, the directors propose that a final tax exempt dividend of 0.7 cents per share with a total of $933,100 be paid to shareholders after the annual general meeting to be held on 15 April 2016. There are no income tax consequences. This dividend is subject to approval by shareholders at the next annual general meeting and has not been included as a liability in these financial statements. The proposed dividend for 2015 is payable in respect of all ordinary shares in issue at the end of the reporting year and including the new qualifying shares issued up to the date the dividend becomes payable. 9. Earnings per share Basic earnings per share is calculated by dividing the net profit attributable to equity holders of the Company by the weighted average number of ordinary shares of no par value in issue during the reporting year. Group 2015 2014 The calculation of earnings per share is based on the following: Net profit for the year attributable to equity holders of the Company ($) 2,955,375 2,777,724 Weighted average number of ordinary shares on issue for basic earnings per share 133,300,000 133,300,000 The Company and Group do not have any discontinued operations. There is no dilution of earnings per share as there are no dilutive potential ordinary shares outstanding as at the year end. The denominators used are the same as those detailed above for both basic and diluted earnings per share.
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