Unilever 2002 Annual Report Download - page 137

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Unilever Annual Report & Accounts and Form 20-F 2002
134 Further statutory information
Unilever N.V.
The rules for profit appropriation in the Articles of
Association (summary of Article 41)
The profit for the year is applied firstly to the reserves required
by law or by the Equalisation Agreement, secondly to cover losses
of previous years, if any, and thirdly to the reserves deemed
necessary by the Board of Directors. Dividends due to the holders
of the Cumulative Preference Shares, including any arrears in such
dividends, are then paid; if the profit is insufficient for this purpose,
the amount available is distributed to them in proportion to the
dividend percentages of their shares. Any profit remaining thereafter
is at the disposal of the General Meeting. Distributions from this
remaining profit are made to the holders of the ordinary shares pro
rata to the nominal amounts of their holdings. The General Meeting
can only decide to make distributions from reserves on the basis of
a proposal by the Board and in compliance with the law and the
Equalisation Agreement.
€million €million
2002 2001
Proposed profit appropriation
Profit for the year 4 071 2 056
Preference dividends (42) (51)
Profit at disposal of the Annual General
Meeting of shareholders 4 029 2 005
Ordinary dividends (946) (872)
Profit for the year retained 3 083 1 133
Profit retained – 1 January 3 508 2 375
Profit retained – 31 December 6 591 3 508
Special controlling rights under the Articles of Association
See note 21 on page 97.
Auditors
A resolution will be proposed at the Annual General Meeting on
7May 2003 for the reappointment of PricewaterhouseCoopers
Accountants N.V. as auditors of NV. The present appointment will
end at the conclusion of the Annual General Meeting.
Corporate Centre
Unilever N.V.
Weena 455
PO Box 760
3000 DK Rotterdam
J A A van der Bijl
S G Williams
Joint Secretaries of Unilever N.V.
4 March 2003