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38GUARDIAN MEDIA LIMITED AND ITS SUBSIDIARIESCONSOLIDATED STATEMENT OF CASH FLOWSFOR THE YEAR ENDED 31 DECEMBER 2015 2015 2014Notes $ $Cash fows from fnancing activities Repayment of borrowings 15 (3,166) (10,791)Dividends paid (24,127) (24,057) Net cash used in fnancing activities (27,293) (34,848) Net decrease in cash and cash equivalents (16,496) (23,774) Cash and cash equivalentsat the beginning of the year 110,912 134,686 Cash and cash equivalents at the end of the year 12 94,416 110,912The accompanying notes form an integral part of these fnancial statements.(Expressed in Thousands of Trinidad and Tobago Dollars, except where otherwise stated)(Continued)