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New Zealand Gazette – 1992 – No. 205

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✨ Telecom Auckland Financial Notes

4556

NEW ZEALAND GAZETTE

No. 205

TELECOM AUCKLAND LIMITED

NOTES TO THE FINANCIAL STATEMENTS

(CONTINUED)

10 SHAREHOLDERS' EQUITY (Continued)

DIVIDENDS

Interim and final dividends declared from the retained earnings of the Company are as follows:

	Six months ended 30 September		Year ended 31 March
	1992	1991	1992
	$000's	$000's	$000's
Interim dividends	15,020	22,437	29,188
Final dividend	-	-	-
	15,020	22,437	29,188

11 COMMITMENTS

OPERATING LEASES

Operating lease commitments are mainly in respect of leases of land and buildings. Minimum rental commitments as at 30 September 1992 for all non-cancellable operating leases are:

(in millions)

Payable within 1 year 16.8
Payable within 1-2 years 16.4
Payable within 2-3 years 16.5
Payable within 3-4 years 16.2
Payable within 4-5 years 13.4
Payable thereafter 31.5
$110.8

CAPITAL COMMITMENTS

As at 30 September 1992 capital expenditure amounting to $12.1 million (30 September 1991: $25.3 million, 31 March 1992: $15.9 million) has been committed under contractual arrangements.

12 CONTINGENT LIABILITIES

LAND CLAIMS

As stated in Note 7, interests in land included in assets purchased from the Crown may be subject to claims to the Waitangi Tribunal or may be deemed to be Wahi Tapu and, in either case, may be resumed by the Crown.

Certain claims have been brought or are pending against the Crown under the Treaty of Waitangi Act 1975. Some of these claims may affect land transfers to Telecom by the Crown and/or by Telecom to its subsidiary companies.

In the event that land is resumed by the Crown, there is provision for compensation to Telecom.

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💰 Telecom Auckland Limited Financial Statements (continued from previous page)

Domain💰 Finance & Revenue
KeywordsFinancial Statements, Shareholders' Equity, Dividends, Commitments, Contingent Liabilities

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