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Annual Report & Accounts 2015 - REPORT OF THE GROUP FINANCE DIRECTOR
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eARninGs PeR shARe Table 5: Earnings per share Basic eps: before exceptional items 80.2 €cents (2014: 66.4 €cents) after exceptional items 40.2 €cents (2014: 66.4 €cents) Diluted eps: before exceptional items 76.4 €cents (2014: 61.4 €cents) after exceptional items 38.3 €cents (2014: 61.4 €cents) the diluted eps is affected by two components: grants of share options granted to employees and directors, and warrants granted to third parties pursuant to underwriting arrangements entered into in contemplation of the sportingbet acquisition which completed in march 2013. DiViDenDs Table 6: History of dividends paid and declared since 1 July 2014 Declaration date fiscal year fiscal year paid payable 2014 2015 2015 2016 €cents €cents €cents €cents 15 July 2014 12.5 - - - 22 september 2014 15.0 - - - 12 January 2015 12.5 - 12.5 - 20 march 2015 15.5 - 15.5 - 8 July 2015 - 14.0 14.0 - 8 october 2015 - 14.0 14.0 - 55.5 28.0 56.0 - up until the announcement of its bid for bwin.party in november 2015, the Group was committed to paying dividends on a quarterly basis and paying a cash amount broadly equivalent to 75% of its Clean net operating Cashflows, taking into account an assessment of its working capital needs. the actual percentages were 65% in 2015 and 79% in 2014. Details of the Clean net operating Cashflow calculation are included in table 7 below. on 4 september 2015, the Company announced a dividend holiday in the calendar year 2016 as a result of the impending acquisition of bwin.party and the consequential combination of debt covenants that will be applicable and the intended restructuring of the Group. GVC HOLDINGS PLC ANNUAL REPORT 2015 BUsiness ReVieW 17