19. Distributions / Dividends Paid $’000 Jun 2020 Final Dividend of 2019/20 at 2.8 cents per security paid Nov 2020 1,648 Dec 2020 Interim Dividend for 2020/21 at 3.1 cents per security paid Mar 2021 1,824 Total Distributions / Dividends paid during the financial year 2021 3,258 Jun 2021 Final Dividend of 2020/21 at 3.48 cents per security paid Oct 2021 2,048 Dec 2021 Interim Dividend for 2021/22 at 3.4 cents per security paid Mar 2022 2,000 Total Dividend paid during the financial year 2021 4,048 Dividends paid during the financial year are fully franked at the tax rate of 30.0c per share. The franking account balance of PMGL is disclosed at Note 7. Cash Dividend The Company recognises a liability to pay a dividend when the dividend is authorised and the dividend is no longer at the discretion of the Company. As per the corporate laws of Australia, dividend is authorised when it is approved by the directors. A corresponding amount is recognised directly in equity. 20. Notes to the Statement of Cash Flows (a) Reconciliation of cash Cash at the end of the financial year as shown in the Statement of Cash Flows is reconciled to the related items in the Statement of Financial Position as follows: 2022 $’000 2021 $’000 Operating (*) 9,212 9,648 Cash Management 2 2 9,214 9,650 (*) This includes a working capital overdraft facility. In 2022 the account had a balance of $nil (2021: $nil) 42
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