NTUC Income AR 2019

NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2019 26. RELATED PARTY TRANSACTIONS (CONTINUED) (a) Sales and purchases of goods and services (continued) The Group 2019 $’000 2018 $’000 Investment related transactions with – Subsidiaries 9,800 – – Joint ventures 5,688 5,688 – Associated companies (124,416) (38,685) – Other related parties 6,413 6,983 (102,515) (26,014) Purchases of goods / rental / management of investment properties with – Parent (620) (1,190) – Subsidiaries (792) (153) – Associated companies (30,904) (1,355) – Other related parties (4,660) (2,170) (36,976) (4,868) Dividends to – Parent (39,635) (33,777) Other related parties comprise mainly entities which are members of the NTUC Enterprise Co-operative Limited group. (b) Key management personnel compensation The Group 2019 $’000 2018 $’000 Salaries and other benefits 11,545 10,412 Employer’s contribution to defined contribution plan 221 213 Directors’ fees 895 915 12,661 11,540 27. DIVIDENDS 2019 $’000 2018 $’000 Ordinary dividends paid: Common share 18,797 52,563 Permanent share 39,635 – Final exempt dividend paid in respect of the previous financial year of 60 cents (2018: 60 cents) 58,432 52,563 The Directors have proposed a dividend of 60 cents (2018: 60 cents) per share and a special dividend of 15 cents per share (2018: nil), amounting to $73,073,000 (2018: $59,303,000) to be paid in respect of the financial year ended 31 December 2019. The financial statements will reflect this dividend payable in the Shareholders' Fund as an appropriation of surplus in the year ending 31 December 2020 after approval is obtained during the Annual General Meeting. ANNUAL REPORT 2019 137