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NEDBANK GROUP ANNUAL REPORT 2009

COMPANY STATEMENT OF CASHFLOWS
FOR THE YEAR ENDED 31 DECEMBER

  Note 2009 2008
    Rm Rm
Cash generated by operations 7 2 732 3 032
BEE transaction share-based payments expense   2 5
Cash paid to clients, employees and suppliers   (18) (20)
Dividends received on investments   2 748 3 047
Change in funds for operating activities   (1 991) (1 257)
(Decrease)/Increase in operating assets   (1 685) 213
Decrease in operating liabilities   (306) (1 470)
       
Net cash generated from operating activities before taxation   741 1 775
Taxation paid 8 57 19
Cashflows from operating activities   684 1 756
Cashflows utilised by investing activities   (1 132) (2)
Acquisition of investments in subsidiary companies   (1 132) (2)
Cashflows utilised by financing activities   448 (1 754)
Proceeds from issue of ordinary shares   2 956 1 312
Dividends paid to ordinary shareholders   (2 508) (3 066)
       
Net increase/(decrease) in cash and cash equivalents for the year   - -