In the recent Webmaster Help video, Google’s Head of Search Spam, Matt Cutts, explains how Google handles a page with two links pointing to the same page.
The question posed was:
“What impact would two links on a page pointing to the same target, each using different anchor text, have on the flow of PageRank?”
To this Cutts replied, PageRank to each link flows individually. So, if a page has two links and both go to the same page, then twice as much PageRank would go to that page.
Answering the question about anchor text, Matt said, if both the links have different anchor text, this is not going to affect the PageRank. Google has a link extraction process which extracts the links from a page, and fix them to the relevant document. This link extraction process can select all the links, one of the links, or some of the links, and this may change over time. Matt said, the last time he looked in 2009, Google only counted the anchor text from the first link. But it may not work the same way now.Matt Explains What Happens When One Page Has Two Links Pointing to the Same Page!,