APC 2014 Annual Report Download - page 296

8SHAREHOLDERS’ MEETING
REPORT OF THE BOARD OF DIRECTORS TO THE COMBINED ORDINARY AND EXTRAORDINARY SHAREHOLDERS’ MEETING
Report of the board of directors 1.
tothecombined ordinary and
Extraordinary Shareholders’
Meeting
Ordinary Meeting
Approval of the parent company financial
For individual shareholders resident for tax purposes in France, the
distribution of EUR1.92 per share is subject to two separate tax
statements– First Resolution
regimes:
We request that you approve the transactions and financial
up to EUR0.56, the dividend constitutes distributed income.(i)
statements for the year 2014, as presented, which show a net
As such, a social security tax of 15.5% will be charged on
income of EUR341.12million.
the gross amount. It is required to be subject to the
Approval of the consolidated financial
progressive income tax rate. After applying a 40%
(uncapped) allowance, only 60% of its amount will be
included in taxable income, less any deductible charges and
statements– Second Resolution expenses. It will be subject to a mandatory non-definitive levy
at source of 21%. This levy will be charged on the income
We request that you approve the transactions and consolidated
tax that will be due in 2016 for income earned in 2015. If it
financial statements for the year 2014, as presented, which show
exceeds the income tax due, the surplus will be paid back.
net income for the Group of EUR1,941million.
Nevertheless, individuals belonging to a tax household
Distribution: Appropriation of income,
whose taxable income for the penultimate year is less than
EUR50,000 with the status of single, divorced or widowed
withholding on share premiums and setting of a taxpayer, and EUR75,000 for couples who file a joint tax
return, can request exemption from this levy. To this end,
dividend of EUR1.92 per share– Third Resolution under their responsibility, they should submit their application
We recommend a distribution of EUR1.92 per EUR4 par value
for exemption to the paying entity, in the form of a sworn
share. This dividend represents a distribution rate of 56.4% of the
statement indicating that their reference taxable income
Group's net income. It will be paid on May5, 2015 on
listed on their tax form established under income for the
584,691,142 shares with dividend rights on January1, 2014, that
penultimate year preceding the payment of the income,
made up the capital on December31, 2014. No dividend will be
shows income lower than the thresholds indicated above.
paid on shares held in treasury by the company on the payment
This application must be filed no later than November30 of
date.
the year preceding that of the payment.
in the amount of EUR1.36, the distribution constitutes a
(ii)
This dividend will be paid out of distributable earnings, consisting
capital repayment. As such, it is not subject to income tax
of:
pursuant to article112-1 of the French Tax Code, as all
net income for the year of EUR341,123,875.33; and
(i) profits and reserves other than the legal reserve have been
the allocation of negative retained earnings of(ii) previously distributed.
EUR15,003,792.00, which will be reset to zero;
Shareholders are invited to contact their usual advisors for more
amounting to EUR326,120,083.33. information on the applicable tax regime.
The total distribution amount will be EUR1,122,606,992.64 through The dividends paid by Schneider Electric SA, for the last three
a withholding of EUR796,486,909.31 on share premiums relating years were as follows:
to the Legrand share contribution, in particular due to the fact that
2011 2012 2013
your Company has decided in 2014 to pursue its policy to
strengthen the equity of Schneider Electric Industries SAS.
Net dividend 1.70 1.87 1.87paid per share
The dividend will be paid on May5, 2015, according to the
following schedule:
Dividend ex-date Thursday, April30, 2015
Record date Monday, May4, 2015
Dividend payment date Tuesday, May5, 2015
294 2014 REGISTRATION DOCUMENT SCHNEIDER ELECTRIC