Samsung 2008 Annual Report Download - page 87

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
21. RETAINED EARNINGS
Retained earnings as of December 31, 2008 and 2007, consist of the following:
(In millions of Korean won)
The Commercial Code of the Republic of Korea requires the Company to appropriate as a legal reserve, an amount equal to a minimum of 10% of annual cash
dividends declared, until the reserve equals 50% of its issued capital stock. The reserve is not available for the payment of cash dividends, but may be
transferred to capital stock through a resolution of the Board of Directors or used to reduce accumulated deficit, if any, with the ratification of the shareholders.
Appropriated
Legal reserve:
Earned surplus reserve 1
￦
450,789
￦
450,789
Discretionary reserve:
Reserve for improvement of financial structure 204,815 204,815
Reserve for business rationalization 9,512,101 8,512,101
Reserve for overseas market development 510,750 510,750
Reserve for overseas investment losses 164,982 164,982
Reserve for research and human resource development 26,936,458 22,936,458
Reserve for export losses 167,749 167,749
Reserve for loss on disposal of treasury stock 3,100,000 2,550,000
Reserve for capital expenditure 8,816,905 8,216,439
49,864,549 43,714,083
Unappropriated 5,555,022 7,351,091
Total
￦
55,419,571
￦
51,065,174
2008 2007
22. DIVIDENDS
SEC declared cash dividends to shareholders of common stock and preferred stock as interim dividends for the six-month periods ended
June 30, 2008 and 2007, and as year-end dividends for the years ended December 31, 2008 and 2007.
Details of interim dividends and year-end dividends are as follows:
(A) Interim Dividends
(B) Year-end Dividends
(In millions of Korean won and number of shares)
(In millions of Korean won and number of shares)
Number of shares eligible for dividends Common stock 126,968,200 shares 126,217,610 shares
Preferred stock 19,853,734 shares 19,853,734 shares
Dividend rate 10% 10%
Dividend amount Common stock
￦
63,484
￦
63,109
Preferred stock 9,927 9,927
￦
73,411
￦
73,036
2008 2007
Number of shares eligible for dividends Common stock 127,035,908 shares 126,427,076 shares
Preferred stock 19,853,734 shares 19,853,734 shares
Dividend rate Common stock 100% 150%
Preferred stock 101% 151%
Dividend amount Common stock
￦
635,180
￦
948,203
Preferred stock 100,261 149,896
￦
735,441
￦
1,098,099
2008 2007
1.