Unilever 2006 Annual Report Download - page 138

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Unilever Annual Report and Accounts 2006 135
Financial Statements (continued)
Further statutory and other information Unilever N.V.
The rules for profit appropriation in the Articles of Association
(summary of Article 38)
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 shall be distributed to
them in proportion to the dividend percentages of their shares. 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.
Proposed profit appropriation €million €million
2006 2005
Profit for the year 1847 2636
Of which already appropriated in 2004(a) n/a (1 342)
Available for distribution 1847 1294
Interim dividend already paid (382) (367)
One-offdividend already paid (432) –
To profit retained 1033 927
(a) Intra-group dividends included in the profit for the year as reported
in 2004 that under FRS 21 arenot recognised until they have been
approved by shareholders, therefore these have been added to the
2005 profit for the year.
Post balance sheet event
The directors propose a final dividend of €0.47 per share (totalling
€780 million) out of the profits retained for the year ended
31 December 2006. The dividend will be submitted for formal
approval at the Annual General Meeting to be held on 15 May
2007. In accordance with FRS 21, these financial statements do
not reflect this dividend payable, which will be accounted for in
shareholders’ equity as an appropriation of retained earnings in
the year ended 31 December 2007. During 2006, a final dividend
of €0.44 per share (totalling €729 million) was paid in respect of
the dividend declared for the year ended 31 December 2005.
Special controlling rights under the Articles of Association
See note 22 to the consolidated accounts on page 109.
Auditors
Aresolution will be proposed at the Annual General Meeting on
15 May 2007 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
The Netherlands
J A A van der Bijl
S G Williams
Joint Secretaries of Unilever N.V.
6March 2007