How to calculate Return on Equity?

[jke_brown]

thanks Halebop for your great input while eating squid and snoopy for clearing up the diffrence between "Return on Shareholders Equity" and "Return on Invested Capital"

I worked out ROE for last 7 years.

2001	2002	2003	2004	2005	2006	2007	Year
							
643	191	704	775	806	2656	3024	Net profit after taxes
614	670	709	775	806	820	955	Adjusted net earnings
5403	5537	5199	5360	5605	5555	5582	Operating Revenue
7421	7500	7755	8246	8972	6203	8276	Total assets
2003	1328	1776	2617	2612	1062	3604	Total Equity
							
30.65%	50.45%	39.92%	29.61%	30.86%	77.21%	26.50%	ROE (du point)
							
32.10%	14.38%	39.64%	29.61%	30.86%	250.09%	83.91%	ROE

so telecom nz been doing well in terms of ROE over the years? Surely better than having the money in the bank looking at ROE?

Other thing I am not sure about is the dividends. How do I go about including dividends in the formula?