Philips 2007 Annual Report Download - page 54

Philips Annual Report 200760
8 Financial highlights 10 Message from the President 16 The Philips Group
- Proposed dividend
to shareholders
- Outlook
62 The Philips sectors
Pursuant to article 34 of the articles of association of
Royal Philips Electronics, rst a dividend will be declared
on preference shares out of net income. The remainder
of the net income, after reservations made with the
approval of the Supervisory Board, shall be available for
distribution to holders of common shares subject to
shareholder approval after year-end. As of December 31,
2007, the issued share capital consists only of common
shares; no preference shares have been issued.
A proposal will be submitted to the 2008 Annual
General Meeting of Shareholders to declare a dividend
of EUR 0.70 per common share, which, dependent on
the progress of the current share repurchase program,
will result in an expected dividend of EUR 715 million.
In 2007, a dividend was paid of EUR 0.60 per common
share (EUR 659 million) in respect of the nancial
year 2006.
Pursuant to article 33 of the articles of association
of Royal Philips Electronics, and with the approval of
the Supervisory Board, the remainder of the net income
for the nancial year 2007 has been retained by way of
reserve. The balance sheet presented in this report, as
part of the consolidated nancial statements for the
period ended December 31, 2007, is before dividend,
which is subject to shareholder approval after year-end
Proposed dividend to shareholders