DCSIMG
Profit appropriation - Annual Report 2015 - DSM

Profit appropriation

According to article 32 of the Articles of Association of Koninklijke DSM N.V. and with the approval of the Supervisory Board, every year the Managing Board determines the portion of the net profit to be appropriated to the reserves. For the year 2015 it has been determined that no amount of the net profit of €88 million will be appropriated to the reserves. From the profit of €88 million, dividend is first distributed on the cumulative preference shares B. At the end of 2015 no cumprefs B were in issue. Subsequently, a 4.348% dividend is distributed on the cumulative preference shares A, based on a share price of €5.29 per cumulative preference share A. For 2015 this distribution amounts to €0.23 per share, which is €10 million in total. An interim dividend of €0.08 per cumulative preference share A having been paid in August 2015, the final dividend will then amount to €0.15 per cumulative preference share A.

The profit remaining after distribution of these dividends on the cumulative preference shares A (€78 million) will be put at the disposal of the Annual General Meeting of Shareholders in accordance with the provisions of Article 32, section 5 of the Articles of Association.

The Managing Board proposes a dividend on ordinary shares outstanding for the year 2015 of €1.65 per share to be paid from the profit remaining after distribution (€78 million) and from the distributable reserves in accordance with the provisions of Article 33, section 4 of the Articles of Association (€210 million).
With a total dividend of €1.65 per ordinary share and an interim dividend of €0.55 per ordinary share having been paid in August 2015, the final dividend would then amount to €1.10 per ordinary share.

If the Annual General Meeting of Shareholders makes a decision in accordance with the proposal, the net profit will be appropriated as follows:

Table 1

in € million
2015
2014
     
Net profit
88
145
     
Profit appropriation:
   
- To be paid from the reserves
(210)
(151)
- Dividend on cumprefs A
10
10
- Interim dividend on ordinary shares
96
95
- Final dividend distributable on ordinary shares
192
191