Financial Ratio Analysis - Dividends per Share: DPS

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Dividends per Share: DPS

The DPS ratio is very similar to the EPS: EPS shows what shareholders earned by way of profit for a period whereas DPS shows how much the shareholders were actually paid by way of dividends. The DPS formula is:

Dividends per share	=	Dividends paid to equity shareholders
		Average number of issued equity shares

Oops, there are no dividend data for the Carphone Warehouse, on page 13 of their annual report and accounts they say:

Profit for the period attributable to shareholders was £38.2m resulting in total shareholders' funds of £436.8m at the period end. As in previous periods the Board has decided to retain these earnings for continued investment in the development of the Group and the future enhancement of shareholder value and is not therefore proposing a dividend for the period.

Vodafone has paid dividends in recent years so gather the relevant data from the database and calculate the DPS for it. Here are the templates we so kindly began to provide under the EPS heading!

Here are two templates to help you along: aren't we kind?

Vodafone Consolidated Profit and Loss Account	31 Mar 2002	31 Mar 2001
Equity dividends (£)
Weighted average number of issued shares

	31 Mar 2002		31 Mar 2001
DPS	__________	£ ______	__________	£ ______

Did you get this?

Vodafone themselves report the DPS as

Dividend per share 1.4721p in 2002 and 1.4020p in 2001

In conclusion we can see that even though Vodafone is suffering large losses, it is still paying dividends to its shareholders, yet the Carphone Warehouse, which is apparently in a better position is not paying dividends.

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