Directors’ report (including remuneration report)
Your Directors present their report on the consolidated entity consisting of Transfield Services Limited and the entities it controlled at the end of, or during,
the year ended 30 June 2010 (the Group or the Company).
Directors
The following persons were Directors of Transfield Services Limited during the whole of the financial year and up to the date of this report:
• Anthony Shepherd (Chairman)
• Dr Peter Goode (Managing Director and Chief Executive Officer)
• Guido Belgiorno-Nettis AM
• Luca Belgiorno-Nettis AM
• Steven Crane
• Mel Ward AO
David Sutherland resigned as a Director on 24 July 2009, the same date upon which Jagjeet Bindra was appointed as Director.
Douglas Snedden was appointed as Director on 21 December 2009. Professor Stephen Burdon retired as Director on 14 July 2010.
Principal activities
During the year the principal continuing activities of the consolidated entity consisted of:
(a) provision of operations and maintenance, asset management, project and capital management outsourcing and infrastructure development services,
and
(b) investment in and management of Transfield Services Infrastructure Fund (TSI Fund).
Transfield Services operates in Australia and New Zealand, the Americas and the Middle East and Asia (comprising the United Arab Emirates, Qatar, New
Caledonia, Malaysia, the Philippines and India) and its business units include resources and industrial, infrastructure services and property and facilities
management.
Dividends
Dividends paid to members during the financial year were as follows:
2010 2009
$’000 $’000
Final ordinary dividend for the previous financial year paid on 12 October 2009 (2009: 13 October 2008) 29,965 35,631
Interim ordinary dividend paid on 14 April 2010 (2009: 14 April 2009) 20,689 19,588
50,654 55,219
cents cents
Final ordinary dividend 7.25 18.00
Interim ordinary dividend 5.00 4.75
Since the end of the financial year the Directors have recommended the payment of a final ordinary dividend of 9 cents per fully paid share, being
$37,285,000 to be paid on 20 October 2010 out of retained profits at 30 June 2010. The Directors resolved on 19 August 2010 to suspend the dividend
reinvestment plan for the 2010 final dividend.