ING Direct 2004 Annual Report Download - page 145
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ING Group Annual Report 2004 143
PROPOSED PROFIT APPROPRIATION
The profit is appropriated pursuant to Article 38 of the Articles of Association of ING Groep N.V., the relevant stipulations of
which state that the part of the profit remaining after the Executive Board, with the approval of the Supervisory Board, has
determined the appropriation to reserves, shall be at the disposal of the General Meeting of Shareholders.
It is proposed to declare a dividend of EUR 1.07 per ordinary share of EUR 0.24.
On 10 September 2004, an interim dividend of EUR 0.49 per ordinary share of EUR 0.24 was made payable. At the shareholders’
option, this interim dividend was paid entirely in ordinary shares out of share premium or in cash. Therefore, a final dividend
remains of EUR 0.58. The final dividend will be paid entirely in cash and will be made payable on 4 May 2005.
APPROPRIATION OF PROFIT WHEN THE PROPOSAL WILL BE APPROVED BY THE GENERAL MEETING OF SHAREHOLDERS
amounts in millions of euros
Net profit 5,968
Due to holders of preference shares pursuant to Article 38 (4) of the Articles of Association 14
Addition to reserves pursuant to Article 38 (5) of the Articles of Association 3,557
Non-distributable profit of Stichting Regio Bank 38
At the disposal of the General Meeting of Shareholders pursuant to Article 38 (6) of the Articles of Association 2,359
Dividend of EUR 1.07 per ordinary share of EUR 0.24 par value
PROVISIONS CONCERNING ISSUE OF SHARES
Pursuant to Article 13 of the Articles of Association, the authority to issue shares, grant the right to take up shares and restrict
or exclude the preferential rights of shareholders has been conferred on the Executive Board, upon approval of the Supervisory
Board.
This authority applies to the period ending on 27 October 2005 (subject to extension by the General Meeting of Shareholders):
1.i) for a total of 210,000,000 ordinary shares;
plus
ii)for a total of 210,000,000 ordinary shares, only if these shares are issued in connection with the take over of a business or
company;
2.for 200,000,000 preference shares B.
PROPOSED PROFIT APPROPRIATION / PROVISIONS CONCERNING ISSUE OF SHARES