NOTES TO THE FINANCIAL STATEMENTS
For the Financial Year Ended 31 December 2014
34 TRADE AND OTHER PAYABLES (CONT’D)
Severance benefit obligations (cont’d)
(e)
Principal actuarial assumptions used are as follows:
2014
2013
% per annum
% per annum
Discount rate
–
5.25 – 5.96
Expected rate of return on assets
–
9.5
Expected rate of salary increases
–
6.0 – 10.0
35 DIVIDENDS
Group and Company
2014
2013
$’000
$’000
Declared and paid during the year:
Dividends on ordinary shares:
• 2013 Interim dividend paid in 2014: 4 cents per share tax exempt
(one-tier tax)
16,324
15,776
[2012 Interim dividend paid in 2013: 4 cents per share tax exempt
(one-tier tax)]
• Special interim dividend paid in 2013: 50 cents per share tax exempt
(one-tier tax)
–
197,199
16,324
212,975
Declared but not recognised as a liability as at 31 December:
Dividends on ordinary shares:
• Interim dividend for 2014: 4 cents per share tax exempt (one-tier tax)
16,324
16,324
[Interim dividend for 2013: 4 cents per share tax exempt (one-tier tax)]
There is no taxation consequence arising from the dividends declared on the Company.
138
THE STRAITS TRADING COMPANY LIMITED ANNUAL REPORT 2014
