Electrolux 2010 Annual Report Download - page 170

The Board of Directors has proposed that the Annual General
Meeting 2011 resolves on a dividend to the shareholders of
SEK 6.50 per share. On account hereof, the Board of Directors
hereby makes the following statement according to Chapter 18
Section 4 of the Swedish Companies Act.
The Board of Directors finds that there will be full coverage for
the restricted equity of the Company, after distribution of the pro-
posed dividend.
It is the Board of Directors’ assessment that after distribution of
the proposed dividend, the equity of the Company and the Group
will be sufficient with respect to the kind, extent, and risks of the
operations. The Board of Directors has hereby considered,
among other things, the Company’s and the Group’s historical
development, the budgeted development and the state of the
market. If financial instruments currently valued at actual value in
accordance with Chapter 4 Section 14a of the Swedish Annual
Accounts Act instead had been valued according to the lower of
cost or net realizable value, including cumulative revaluation of
external shares, the equity of the company would decrease by
SEK 577,204 thousand.
After the proposed dividend, the financial strength of the Com-
pany and the Group is assessed to continue to be good in relation
to the industry in which the Group is operating. The dividend will
not affect the ability of the Company and the Group to comply
with its payment obligations. The Board of Directors finds that the
Company and the Group are well prepared to handle any changes
in respect of liquidity, as well as unexpected events.
The Board of Directors is of the opinion that the Company and
the Group have the ability to take future business risks and also
cope with potential losses. The proposed dividend will not nega-
tively affect the Company’s and the Group’s ability to make further
commercially motivated investments in accordance with the strat-
egy of the Board of Directors.
The Board of Directors declare that the consolidated financial
statements have been prepared in accordance with IFRS as
adopted by the EU and give a true and fair view of the Group’s
financial position and results of operations. The financial state-
ments of the Parent Company have been prepared in accordance
with generally accepted accounting principles in Sweden and give
a true and fair view of the Parent Company’s financial position and
results of operations.
The statutory Administration Report of the Group and the
Parent Company provides a fair review of the development of the
Group’s and the Parent Company’s operations, financial position
and results of operations and describes material risks and uncer-
tainties facing the Parent Company and the companies included
in the Group.
Proposed distribution of earnings
Thousands of kronor
The Board of Directors propose that income for the period and retained earnings 15,089,102
be distributed as follows:
A dividend to the shareholders of SEK 6.50 per share1), totaling 1,850,324
To be carried forward 13,238,778
Total 15,089,102
1) Calculated on the number of outstanding shares as per February 1, 2011. The Board of Directors and the President propose April 5, 2011
as record day for the right to dividend.
Stockholm, February 1, 2011
Marcus Wallenberg
Chairman of the Board of Directors
Peggy Bruzelius
Deputy Chairman of the Board of Directors
Lorna Davis Hasse Johansson John S. Lupo Johan Molin
Board member Board member Board member Board member
Caroline Sundewall Torben Ballegaard Sørensen Barbara Milian Thoralfsson
Board member Board member Board member
Ola Bertilsson Gunilla Brandt Ulf Carlsson
Board member, Board member, Board member,
employee representative employee representative employee representative
Keith McLoughlin
President and Chief Executive Officer as from January 1, 2011
annual report 2010 | part 2 | proposed distribution of earnings
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