Notes to the Company financial statements (continued) 234 Vodafone Group Plc Annual Report 2024 2020 234 Vodafone Group Plc Annual Report 2024 Strategic report Governance
Financials
Other information
9. Equity dividends Accounting policies Dividends paid and received are included in the Company financial statements in the period in which the related dividends are actually paid or received or, in respect of the Company’s final dividend for the year, approved by shareholders. 2024 2023 €m €m Declared during the financial year Final dividend for the year ended 31 March 2023: 4.50 eurocents per share (2022: 4.50 eurocents per share) 1,215 1,265 Interim dividend for the year ended 31 March 2024: 4.50 eurocents per share (2023: 4.50 eurocents per share) 1,218 1,237 2,433 2,502
Proposed after the balance sheet date and not recognised as a liability Final dividend for the year ended 31 March 2024: 4.50 eurocents per share (2023: 4.50 eurocents per share) 10. Guarantees, contingent liabilities and legal proceedings
1,219
1,215
2024 €m
2023 €m
Performance and payment bonds 1
1,399 1,566
1,307 1,661
Guarantees 2
Notes: 1 Performance and payment bonds represent letter of credit arrangements provided to other Group companies. 2 Principally comprises Vodafone Group Plc’s guarantee of the Group’s share in a multicurrency loan facility, amounting to US$1 billion and €0.6 billion (2023: US$1.75 billion), which forms part of its overall joint venture investment in TPG Telecom Ltd (as detailed in note 22 ‘Capital and financial risk management’ to the consolidated financial statements). As detailed in note 25 ‘Post employment benefits’ to the consolidated financial statements, the Company is the sponsor of the Group’s main defined benefit scheme in the UK, being the Vodafone Group UK Pension Scheme (‘Vodafone UK plan’). The results, assets and liabilities associated with the Vodafone UK plan are recognised in the financial statements of Vodafone Limited and Vodafone Group Services Limited. As detailed in note 29 ‘Contingent liabilities and legal proceedings’ to the consolidated financial statements, the Company has covenanted to provide security in favour of the trustees of the Vodafone Group UK Pension Scheme and the trustees of THUS Plc Group Scheme Additionally, as detailed in note 32 ‘Subsidiaries exempt from audit’ to the consolidated financial statements, the Company guarantees the debts and liabilities of certain of its UK subsidiaries at the balance sheet date in accordance with section 479C of the Companies Act 2006. Legal proceedings Details regarding certain legal actions which involve the Company are set out in note 29 ‘Contingent liabilities and legal proceedings’ to the consolidated financial statements. 11. Other matters The auditor’s remuneration for the current year in respect of audit and audit-related services was €7 million (2023: €6 million 1 ) and for non-audit services was €10 million (2023: €1 million). The Company had two (2023: two) employees from 1 September 2023 when Luka Mucic was appointed Group Chief Financial Officer. The executive directors were remunerated by the Company for their services to the Group as a whole. No remuneration was paid to them specifically in respect of their services to Vodafone Group Plc for either year. Full details of the Directors’ remuneration are disclosed in the ‘Annual Report on Remuneration’ on pages 106 to 118 and in Note 23 ‘Directors and key management compensation’. Vodafone Group Plc is incorporated and domiciled in England and Wales (registration number 1833679). The registered address of the Company is Vodafone House, The Connection, Newbury, Berkshire, RG14 2FN, England. Note: 1 Audit fees of the parent company for the year ended 31 March 2023 have increased by €1 million compared to the amount previously reported. This is to include fees agreed during the year ended 31 March 2024 relating to the year ended 31 March 2023.
Powered by FlippingBook