b'Mercia Asset Management PLC97Annual Report and Accounts 202112. Earnings/(loss) per shareBasic earnings/(loss) per share is calculated by dividing the profit/(loss) for the financial year by the weighted average number of Ordinary shares in issue during the year. Diluted earnings per share is calculated by dividing the profit/(loss) for the financial year by the weighted average number of Ordinary shares outstanding and, when dilutive, adjusted for the effect of all potentially dilutive shares including share options on an as-if-converted basis. The potential dilutive shares are included in diluted earnings/(loss) per share calculations on a weighted average basis for the year. The profit/(loss) and weighted average number of shares used in the calculations are set out below:Year ended Year ended31 March 31 March2021 2020Profit/(loss) for the financial year (000) 34,458 (17,454)Basic weighted average number of Ordinary shares (000) 440,110 341,401Basic earnings/(loss) per ordinary share (pence) 7.83 (5.11)Diluted weighted average number of Ordinary shares (000) 440,110 341,627diluted earnings/(loss) per ordinary share (pence) 7.83 (5.11)The calculation of basic and diluted loss per share is based on the following data: Strategic report GovernanceYear ended Year ended31 March 31 March2021 2020000 000Weighted average number of sharesBasic 440,110 341,401Dilutive impact of Ordinary shares issued 226diluted weighted average number of ordinary shares 440,110 341,627Financial statements13. DividendsIn December 2020 the Company paid 440,000 in respect of an interim dividend for the year ended 31 March 2021 of 0.1 pence per share. A final dividend for the year ended 31 March 2021 of 0.3 pence per share, totalling 1,320,000, is proposed by the Directors.Year ended 31 March 2021 Year ended 31 March 2020PencePence per share 000 per share 000equity sharesInterim 0.1 440Final proposed 0.3 1,320total 0.4 1,760The final dividend for the year ended 31 March 2021 is subject to shareholder approval at the Annual General Meeting in September 2021, and as such has not been included as a liability in these financial statements in accordance with IAS 10.'