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28CONSOLIDATED STATEMENT OF CASH FLOWSFOR THE YEAR ENDED 31 DECEMBER 2012(Expressed in Thousands of Trinidad and Tobago Dollars, except where otherwise stated)(Continued)2012 2011$ $ Cash flows from financing activitiesRepayment of borrowings (8,035) (8,594)Dividends paid (20,067) (20,067)Net cash used in financing activities (28,102) (28,661)Net increase in cash and cash equivalents 16,573 11,116Cash and cash equivalents at the beginning of the year 110,840 99,724Cash and cash equivalents at the end of the year 127,413 110,840The accompanying notes form an integral part of these financial statements.Notes1710Guardian_Media_Annual_Report2012.indd 28 4/17/13 7:31 PM