Notes to the consolidated annual financial statements | Note 8

  Rm 2017   2016  
8. Earnings and dividends per share        
  Basic earnings per share 915   881  
  Diluted earnings per share 886   857  
  Headline earnings per share 923   883  
  Diluted headline earnings per share 894   860  
  Dividends per share1 795   795  

 
    Note:
  • The 31 March 2017 dividend per share includes dividends of 400 cents per share and 395 cents per share, declared on 13 May 2016 and 11 November 2016, respectively. The 31 March 2016 dividend per share includes dividends of 400 cents per share and 395 cents per share, declared on 14 May 2015 and 6 November 2015, respectively. The Group declared a final dividend of 435 cents per share in respect of the year ended 31 March 2017 after the reporting period (Note 27).
8.1 Earnings per share
  Earnings per share calculations are based on earnings and the weighted average number of ordinary shares outstanding as set out below:
  Rm 2017    2016   
8.1.1 Diluted earnings reconciliation        
  Earnings attributable to equity shareholders for basic earnings per share 13 418    12 917   
  Adjusted for:        
     Dilutive effect of potential ordinary shares in subsidiary (408)   (333)  
  Earnings for diluted earnings per share 13 010    12 584   
8.1.2 Headline earnings reconciliation        
  Earnings, attributable to equity shareholders, for basic earnings per share 13 418    12 917   
  Adjusted for:        
     Net loss on disposal of property, plant and equipment and intangible assets (Note 3) 38    26   
     Net loss on disposal of property, plant and equipment and intangible assets (Note 3) 58    50   
     Tax and non-controlling interest impact (20)   (24)  
     Impairment losses (Note 2) 84    14   
     Impairment losses (Note 2) 84    14   
     Tax and non-controlling interest impact –   –  
  Headline earnings for headline earnings per share1 13 540    12 957   
     Dilutive effect of potential ordinary shares in subsidiary (408)   (333)  
  Headline earnings for diluted headline earnings per share 13 132    12 624   

 
    Note:
  • This disclosure is a requirement of the JSE Limited and is not a recognised measure under IFRS. It has been calculated in accordance with Circular 2/2015 as issued by SAICA.
  Shares 2017   2016  
8.1.3 Reconciliation of weighted average number of ordinary shares outstanding        
  For basic and headline earnings per share 1 466 738 842    1 466 641 659   
  Diluted earnings and diluted headline earnings per share 1 910 513    2 041 696   
  For diluted earnings and diluted headline earnings per share1 1 468 649 355    1 468 683 355   

 
    Note:
  • Includes shares held under the forfeitable share plan (Note 17.1.1).
8.2 Dividends per share
  Vodacom Group Limited acquired 1 386 131 shares in the market during the year at an average price of R167.23 per share. Dividends per share calculations are based on a declared dividend of R11 829 million (2016: R11 829 million) and shares of
1 487 954 000 for all reporting periods. R44 million (2016: R41 million) of the dividend declared was offset against the forfeitable share plan reserve, R5 million (2016: R5 million) expensed as staff expenses and R123 million (2016: R123 million) paid to Wheatfields, a wholly owned subsidiary holding treasury shares on behalf of the Group.