Dividend proposal 2017
The Management Board has determined, with the approval of the Supervisory Board, to add €111.8 million of the profit to the other reserves. The remaining profit of €91.5 million is at the disposal of the General Meeting of Shareholders. This equates to 45% of profit after taxation, excluding incidental items after tax that did not generate cash flows in the 2017 financial year.
The dividend for 2017 is down by €12.3 million compared with 2016 owing to the lower net profit for 2017, which is mainly explained by the fact that there was an incidental book profit on the sale of Endinet in 2016.