Profit appropriation
Proposal for appropriation of profit for 2019
The articles of association of Stedin Holding N.V. contain provisions concerning profit appropriation. The articles of association state that 50% of the profit is eligible for dividend distributions in principle, excluding incidental income. Stedin Holding N.V. has designated the following income as incidental income:
x € 1 million | 2019 | 2018 |
|---|---|---|
Profit after income tax | 325 | 118 |
Result attributable to holders of Stedin Holding N.V. perpetual subordinated bonds | -12 | -12 |
Incidental income: | ||
Change in corporate income tax rate | 2 | -14 |
Profit on disposal of Joulz Diensten | -251 | - |
Profit after income tax available for distribution to the shareholders | 64 | 92 |
Proposed dividend | 52 | 46 |
Increase of general reserve after proposed dividend distribution | 273 | 72 |
A proposal will be put to the General Meeting of Shareholders to resolve to pay a dividend of € 52 million, being 50% of the profit excluding incidental income, plus a one-off amount of € 20 million and to add the remainder of € 273 million to the general reserve.
This would represent a total dividend for 2019 of € 10.46 per share (2018: € 9.18 per share). The proposed profit appropriation has not been recognised in the balance sheet as at 31 December 2019.
Rotterdam, 23 March 2020
Stedin Holding N.V.
Board of Management | Supervisory Board |
Marc van der Linden, CEO (chair) | Doede Vierstra (chair) |
