Philips 2008 Annual Report Download - page 68

Proposed
distribution to
shareholders
Pursuant to article 34 of the articles of association of
Royal Philips Electronics, a dividend will first 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,
2008, the issued share capital consists only of common
shares; no preference shares have been issued. Article 33
of the articles of association of Royal Philips Electronics
gives the Board of Management the power to determine
what portion of the net income shall be retained by
way of reserve, subject to the approval of the
Supervisory Board.
Pursuant to article 35 of the articles of association of
Royal Philips Electronics, a proposal will be submitted
to the 2009 Annual General Meeting of Shareholders
to declare a distribution in cash of EUR 0.70 per common
share from the retained earnings. Such distribution is
expected to result in a payment of EUR 646 million.
In 2008, a dividend was paid of EUR 0.70 per common
share (EUR 720 million) in respect of the financial year
2007. The remainder of the net income for the financial
year 2007 has been retained by way of reserve.
The balance sheet presented in this report, as part of
the Company financial statements for the period ended
December 31, 2008, is before appropriation of the result
for the financial year 2008.
Philips Annual Report 200868
42
Our group performance
Proposed distribution to
shareholders / Outlook
18
We care about...
8
Message from
the President
6
Performance highlights
14
Who we are