LensCrafters 2010 Annual Report Download - page 190
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ANNUAL REPORT 2010> 188 | BOARD OF DIRECTORS’ PROPOSAL
The Board of Directors, in consideration of the prospects for development and its expectations of future income,
recommends the distribution of a gross dividend of Euro 0.44 per ordinary share, and hence per American Depository
Share (ADS), based on the profit of the 2010 fiscal year, which totals to Euro 294,252,234.
Having taken into account the calendar approved by Borsa Italiana S.p.A., the Board of Directors recommends that the
payment date of the dividend is set for May 26, 2011, with its ex–dividend date on May 23, 2011.
Having taken into consideration the number of shares that are presently in circulation, namely no. 466,3248,760, the total
amount to be distributed would be equal to Euro 205.1 million ( Euro 202.3 million taking into account no. 6,500,000 shares
which are directly owned by the Company on the date of the present report). The distribution would take place after the
allocation of Euro 17,381.32 to the legal reserve. The residual amount following the proposed appropriations would then
be allocated to the extraordinary reserve.
It should be noted that the amounts in question may vary due to the possible issue of new shares following the exercise of
stock options and/or the purchase of further treasury shares by the Company before the ex–dividend date. In any case, in
the event that all the exercisable stock options are in fact exercised before the ex–dividend date, the maximum amount to
be taken from the profit for the year for the distribution of the dividend, assuming that the number of the treasury shares
of the company remains unchanged, would amount to approximately Euro 204 million.
Milan, February 28, 2011
On behalf of the Board of Directors
Andrea Guerra
Chief Executive Officer