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p)
Foreign currency transactions
The functional currency of the Parent and its investees is the euro. Therefore, transactions
in currencies other than the euro are deemed to be “foreign currency transactions” and are
recognised by applying the exchange rates prevailing at the date of the transaction.
q)
Consolidated statements of cash flows
The following terms are used in the consolidated statements of cash flows with the
meanings specified:
Cash flows: inflows and outflows of cash and cash equivalents, which are short-term,
highly liquid investments that are subject to an insignificant risk of changes in value.
Operating activities: the principal revenue-producing activities of the Company and other
activities that are not investing or financing activities.
Investing activities: the acquisition and disposal of long-term assets and other
investments not included in cash and cash equivalents.
Financing activities: activities that result in changes in the size and composition of equity
and borrowings that are not operating activities.
r)
Earnings per share
Basic earnings per share are calculated by dividing the net profit attributable to the Parent
by the weighted average number of ordinary shares outstanding during the year,
excluding the number of shares of the Parent held by the Group.
The Group has not carried out transactions of any kind that have led to diluted earnings
per share differing from basic earnings per share (see Note 24).
s)
Dividends
At the Annual General Meeting held on 23 April 2014, the shareholders of the Parent
ratified, among other resolutions, the distribution of 2013 profit, allocating the maximum
amount of EUR 24,701 thousand to the payment of an ordinary dividend of EUR 0.11 per
share eligible to receive it, once the component related to treasury shares had been
attributed. The dividend amounting to EUR 24,575 thousand, representing an increase of
15% on the par value, was paid on 18 June 2014.
At the Parent's Board of Directors meeting held on 19 November 2014, it was resolved to
distribute out of the Parent's profit for 2014, gross amount of ten euro cents (EUR 0.10)
for each of the 224,551,504 shares with a par value of EUR 0.75 carrying dividend rights,
of which 1,145,594 are treasury shares. Accordingly, the dividend rights inherent to
treasury shares were attributed proportionately to the other shares that are eligible to
receive the dividend, in accordance with Article 148 of the Spanish Limited Liability
Companies Law.