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Calculate the basic earnings per share to be reported

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Reference no: EM132975699

Question - Olive plc makes up its accounts to 31 August each year. On 1 September 2019 Olive had 200m ordinary shares in issue. Profit after tax for the year to 31 August 2020 was £53m. Olive is paying a dividend of £5m to its preference shareholders for the year ended 31 August 2020. On 1 June 2020, Olive made a 5 for 8 rights issue and all rights were taken up. The issue price was £0.80 and the price of a share immediately before the rights issue was £1.40. Calculate the basic earnings per share to be reported in the financial statements of Olive plc for the year ended 31 August 2020?

Reference no: EM132975699

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