BG Group to Report in US Dollars from 2010
BG Group announced that from financial year 2010 it will be changing the currency in which it reports its financial results to US Dollars. The Company currently reports in UK Sterling.
Ashley Almanza, Chief Financial Officer for BG Group said, "Following a period of sustained international growth, most of the Group's revenues are denominated in US Dollars and reporting in this way will better reflect the economic performance of BG Group. Reporting in US Dollars will also aid comparability between reporting periods and against BG Group's peer group.
"BG Group will declare its interim dividend for 2010 in US Dollars. There is no change in the currency of dividend payments and all shareholders will continue to be paid in Sterling reflecting the domicile of the majority of the Group's shareholders."
The timetable for the introduction of BG Group's change in financial reporting will be:
- April 29, 2010: First quarter 2010 results reported in US Dollars
- April 2010: 2009 Annual Report and Accounts in Sterling to include summarised financial statements in US Dollars
- April 2011: 2010 Annual Report and Accounts in US Dollars
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