UOB Annual Report 2002 - United Overseas Bank

Notes to the Financial Statements
for the financial year ended 31 December 2002
19 Revenue Reserves (continued)
(b) The Bank
2002 2001
General Retained General Retained
Reserve Profits Total Reserve Profits Total
$'000 $'000 $'000 $'000 $'000 $'000
Balance at 1 January
As previously reported 829,321 1,276,920 2,106,241 616,321 1,248,225 1,864,546
Prior year adjustments resulting
from adoption of revised SAS 12 – 42,710 42,710 – 42,710 42,710
As restated 829,321 1,319,630 2,148,951 616,321 1,290,935 1,907,256
Net profit for the financial year
attributable to members – 1,432,026 1,432,026 – 746,639 746,639
Transfer to general reserve 328,000 (328,000) – 213,000 (213,000) –
Transfer to statutory reserve (Note 18) (669,193) (72,000) (741,193) – (187,000) (187,000)
Transfer from capital reserve (Note 18) – 1,000,109 1,000,109 – – –
Dividends:
Final dividend in respect of financial
year ended 31 December 2001
(2001: 31 December 2000) of 25 cents
(2001: 25 cents) per share paid,
net of tax at 22% (2001: 24.5%) – (306,454) (306,454) – (198,713) (198,713)
Interim dividend in respect of financial
year ended 31 December 2002
(2001: 31 December 2001) of 15 cents
(2001: 15 cents) per share paid,
net of tax at 22% (2001: 24.5%) – (183,874) (183,874) – (119,231) (119,231)
Interim dividend in respect of financial
year ended 31 December 2002 of
18.76 cents per share paid in specie,
net of tax at 22% [Note 19(c)] – (230,020) (230,020) – – –
– (720,348) (720,348) – (317,944) (317,944)
Balance at 31 December 488,128 2,631,417 3,119,545 829,321 1,319,630 2,148,951
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