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25Report to the DirectorsThe Directors have pleasure in presenting their Report to the Members together with the Audited Financial Statements for the year ended 31 December 2015. (Expressed in Thousands of Trinidad and Tobago Dollars, except where otherwise stated).Assets $ $Total Comprehensive Income for the Year 29,959Deduct:Dividend Paid:PREFERENCE - Final 2014 - 4% 58 Interim 2015 - 4% 59ORDINARY - Final 2014 - 42 cents per share 16,758 Interim 2015 - 18 cents per share 7,182 <24,057>Other Transfers and Movements <70>Retained income for the year 5,832Retained earnings brought forward 290,388 Retained earnings at 31 December 2015 296,220DIVIDENDSAn Interim Dividend of 4% was paid to participating Preference Shareholders and 18 cents was paid to Ordinary Shareholders in November 2015. The Directors have declared Final Dividends of 4% and 47 cents per share to be paid to Preference and Ordinary Shareholders respectively, who are on the Register of Members on 24 May 2016. Dividends will be paid on 13 June 2016.DIRECTORS(i) Mr. Grenfell Kissoon will retire from the Board with effect from May 25, 2016.(ii) Mr. Gabriel Faria and Ms. Diane Chatoor resigned from the Board effective May 25, 2016.(iii) Under By-Law No 1, paragraph 4.3, Directors Peter Clarke, Conrad Sabga and Clement Sankat retire by rotation, and being eligible, offer themselves for re-election.(iv) The following individuals have offered themselves for election to serve on the Board:- %u2022 Mr. Reginald Amour S.C.%u2022 Ms. Sonja Gittens-Ottley%u2022 Mr. Jeremy Matouk%u2022 Mr. Lucio Mesquita%u2022 Ms. Jennifer Smith%u2022 Ms. Teresa WhiteAUDITORSThe Auditors, Ernst & Young, retire and have indicated their willingness to be re-appointed.By order of the BoardLarry JeromeCompany Secretary18 March 2016