127
FINANCIAL STATEMENTS
11 EMPLOYEE BENEFITS continued During the year to 31 December 2020, awards of SAYEs were made on 22 April 2020. The weighted-average fair value and assumptions used to determine the fair value of options granted during the year under the SAYE are as follows:
£0.25
Fair value at grant date Option pricing model used Share price at grant date
Black-Scholes
£0.55 £0.38
Exercise price
51.70% 37.48%
Expected volatility – 3 year scheme Expected volatility – 5 year scheme
3.36 or 5.36 years
Option life Dividends
Nil
0.10% 0.16%
Risk-free interest rate – 3 year scheme Risk-free interest rate – 5 year scheme
5%
Saving forfeit discounts
Share-based payment expense The share-based payment expense recognised in the Consolidated statement of comprehensive income for employee services receivable during the year is as follows: Year ended 31 December 2020 £m Year ended 31 December 2019 £m Equity-settled schemes 6.8 5.2 Total expense 6.8 5.2 12 EARNINGS PER SHARE The calculation of basic and diluted earnings per share is based on dividing the profit or loss attributable to equity holders of the Company by the weighted-average number of ordinary shares outstanding, and by the diluted weighted-average number of ordinary shares potentially outstanding at the end of the year. The weighted-average number of ordinary shares excludes shares held by the Employee Benefit Trust on behalf of the Company to satisfy future exercises of employee share scheme awards. Year ended 31 December 2020 Year ended 31 December 2019
Weighted- average number of
Weighted- average number of
Earnings per share pence
Earnings per share pence
Earnings £m
shares million
Earnings £m
shares million
193.6
Profit attributable to equity holders of Just Group plc Coupon payments in respect of Tier 1 notes (net of tax)
302.6
(28.1)
(16.8)
Profit attributable to ordinary equity holders of Just Group plc (basic)
165.5 1,030.7 16.06
285.8 1,007.5
28.37
–
11.1
(0.17)
Effect of potentially dilutive share options
–
13.1
(0.37)
Diluted
165.5 1,041.8 15.89
285.8 1,020.6
28.00
13 DIVIDENDS Dividends paid in the year were as follows:
Year ended 31 December 2020 £m
Year ended 31 December 2019 £m
0.1 0.1
Dividends paid on the vesting of employee share schemes
0.2 0.2
Total dividends paid
28.1 28.2
Coupon payments in respect of Tier 1 notes1 Total distributions to equity holders in the period
16.8 17.0
1 Coupon payments on Tier 1 notes issued in March 2019 are treated as an appropriation of retained profits and, accordingly, are accounted for when paid.
The Board considers that it is not appropriate to recommend paying a dividend for 2020 (2019: nil).
Powered by FlippingBook