Note 8: Earnings per share

for the six months ended 30 September 2015

Reviewed
Six months ended
30 September 2015
Restated
Six months ended
30 September 2014
Restated
Year ended
31 March 2015
Rm Rm Rm
Earnings per share
Total operations
Basic earnings per share (cents) 110.4 202.1 607.7
Diluted earnings per share (cents) 108.4 198.7 595.3
Headline earnings per share (cents) 69.9 200.6 597.9
Diluted headline earnings per share (cents) 68.6 197.1 585.7
Reconciliation of weighted average number of ordinary shares:
Ordinary shares in issue 526 948 700 520 783 900 520 783 900
Weighted average number of shares held by subsidiaries and in Escrow (refer to note 19) (15 933 358) (10 190 084) (10 190 084)
Weighted average number of shares outstanding 511 015 342 510 593 816 510 593 816
Reconciliation of diluted weighted average number of ordinary shares
Weighted average number of shares outstanding 511 015 342 510 593 816 510 593 816
Expected future vesting of shares 9 145 787 8 783 562 10 654 715
Diluted weighted average number of shares  outstanding 520 161 129 519 377 378 521 248 531
Total operations Rm Rm Rm
Reconciliation between earnings and headline earnings:
Profit for the year 606 1 078 3 208
Non-controlling interests (42) (46) (105)
Profit attributable to equity holders of Telkom 564 1 032 3 103
Adjustments:
Profit on disposal of property, plant and equipment and intangible assets (282) (53) (257)
Impairment loss on property, plant and equipment and intangible assets - 19 -
Write-offs of property, plant and equipment and intangible assets 31 23 220
Taxation effects 44 3 (13)
Headline earnings 357 1 024 3 053
Dividend per share (cents) 245.0 - -

The calculation of dividend per share is based on dividends of R1 291 million declared on 5 June 2015 and 526,948,700 number of ordinary shares outstanding on the date of dividend declaration. The dividend paid is made up of an ordinary dividend of 215 cents per share and a special dividend of 30 cents per share.