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Earnings/(Loss) Per Share | 12 Months Ended
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Jun. 30, 2019
Earnings per share [abstract] |
Earnings/(Loss) Per Share | EARNINGS/(LOSS) PER SHARE BASIC EARNINGS/(LOSS) PER SHARE Basic earnings/(loss) per share is calculated by dividing the net income attributable to shareholders by the weighted number of ordinary shares in issue during the year.
| 2019 |  | 2018 |  | 2017 |
Ordinary shares in issue ('000) | 539 841 |  | 500 252 |  | 439 957 |
Adjustment for weighted number of ordinary shares in issue ('000) | (12 974 | ) | (54 304 | ) | (1 077 | )
Weighted number of ordinary shares in issue ('000) | 526 867 |  | 445 948 |  | 438 880 |
Treasury shares ('000) | (3 058 | ) | (52 | ) | (437 | )
Basic weighted average number of ordinary shares in issue ('000) | 523 809 |  | 445 896 |  | 438 443 |
| SA rand
| 2019 |  | 2018 |  | 2017 |
Total net earnings/(loss) attributable to shareholders (millions) | (2 607 | ) | (4 473 | ) | 362 |
Total basic earnings/(loss) per share (cents) | (498 | ) | (1 003 | ) | 82 |
DILUTED EARNINGS/(LOSS) PER SHARE For diluted earnings/(loss) per share, the weighted average number of ordinary shares in issue is adjusted to assume conversion of all potential dilutive ordinary shares as a result of share options granted to employees under the share option schemes in issue. A calculation is performed to determine the number of shares that could have been acquired at fair value, determined as the average annual market share price of the company's shares, based on the monetary value of the subscription rights attached to the outstanding share options. The number of shares calculated as above is compared with the number of shares that would have been issued assuming the exercise of the share options.
11 | EARNINGS/(LOSS) PER SHARE continued
DILUTED EARNINGS/(LOSS) PER SHARE continued
| 2019 |  | 2018 |  | 2017 |
Weighted average number of ordinary shares in issue ('000) | 523 809 |  | 445 896 |  | 438 443 |
Potential ordinary shares 1 ('000) | 9 537 |  | 19 423 |  | 20 777 |
Weighted average number of ordinary shares for diluted earnings per share 1 ('000) | 533 346 |  | 465 319 |  | 459 220 |
| SA rand
| 2019 |  | 2018 |  | 2017 |
Total diluted earnings/(loss) per share (cents)2 | (500 | ) | (1 004 | ) | 79 |
1 Due to the net loss attributable to shareholders in 2019, the inclusion of the share options as potential ordinary shares had an anti-dilutive (2018: anti-dilutive and 2017: dilutive) effect on the loss (2018: loss and 2017: earnings) per share and were therefore not taken into account in the current year calculation. The issue price and the exercise price of share options issued to employees include the fair value of any service to be supplied to the entity in the future under the share option or other share-based payment arrangement. 2 The dilution is as a result of the potential reduction in earnings attributable to equity holders of the parent company as a result of the exercise of the Tswelopele Beneficiation Operation (TBO) option.TBO contributed a profit and therefore the reduction in earnings attributable to Harmony would increase the loss and loss per share. DIVIDENDS
ACCOUNTING POLICY Dividends declared are recognised in the period in which they are approved by the board of directors. Dividends are payable in South African rand. Cash flows from dividends paid are classified under financing activities in the cash flow statement.
• | On 17 August 2017, the board declared a final dividend of 35 cents cents for the year ended 30 June 2017. R154 million was paid on 16 October 2017.
• | On 31 January 2017, the board declared an interim dividend of 50 cents. R221 million was paid on 20 March 2017.
• | On 15 August 2016, the board declared a final dividend of 50 cents for the year ended 30 June 2016. R218 million was paid on 19 September 2016.
| SA rand
| 2019 |  | 2018 |  | 2017 |
Dividend declared (millions) | — |  | 154 |  | 439 |
Dividend per share (cents) | — |  | 35 |  | 100 |

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