Food Lion 2007 Annual Report Download - page 81

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(in millions of EUR) December 31, 2007
Net Carrying Neither Impaired Past Due - Past Due - Past Due - Other
Amount as of Nor Past Due on the Less than Between 30 More than
December 31, 2007 Reporting Date 30 Days and 180 Days 180 Days
Trade receivables 488.2 217.5 43.4 217.3 10.0 -
Trade receivables - bad debt allowance (15.3) (6.1) (0.5) (1.7) (7.0) -
Other receivables 91.7 78.1 3.6 6.5 3.5 -
Total 564.6 289.5 46.5 222.1 6.5 -
(in millions of EUR) December 31, 2006
Net Carrying Neither Impaired Past Due - Past Due - Past Due - Other
Amount as of Nor Past Due on the Less than Between 30 More than
December 31, 2006 Reporting Date 30 Days and 180 Days 180 Days
Trade receivables 437.2 205.9 18.0 201.2 9.9 2.2
Trade receivables - bad debt allowance (19.4) (8.3) (0.2) (1.9) (8.5) (0.5)
Other receivables 109.3 78.1 7.6 11.6 11.9 0.1
Total 527.1 275.7 25.4 210.9 13.3 1.8
(in millions of EUR) December 31, 2005
Net Carrying Neither Impaired Past Due - Past Due - Past Due - Other
Amount as of Nor Past Due on the Less than Between 30 More than
December 31, 2005 Reporting Date 30 Days and 180 Days 180 Days
Trade receivables 419.0 210.0 11.7 176.1 8.7 12.5
Trade receivables - bad debt allowance (18.0) (6.4) (0.4) (2.7) (6.2) (2.3)
Other receivables 81.6 60.2 4.7 8.3 8.2 0.2
Total 482.6 263.8 16.0 181.7 10.7 10.4
The aging of Delhaize Group current receivables is as follows:
The above analysis shows the aging of receivables. To provide a more accurate
analysis of the aging of receivables, receivables of subsidiaries with discontinued
operations have been classified in the column “other”. The maximum exposure to
credit risk for the receivables is the carrying value.
15. Dividends
On May 24, 2007, the shareholders approved the payment of a gross dividend
of EUR 1.32 per share (EUR 0.99 per share after deduction of the 25% Belgian
withholding tax) or a total gross dividend of EUR 129.9 million. On May 24, 2006,
the shareholders approved the payment of a gross dividend of EUR 1.20 per share
(EUR 0.90 per share after deduction of the 25% Belgian withholding tax) or a total
gross dividend of EUR 114.5 million. On May 26, 2005, the shareholders approved
the payment of a gross dividend of EUR 1.12 per share (EUR 0.84 per share
after deduction of the 25% Belgian withholding tax) or a total gross dividend of
EUR 105.5 million.
With respect to the current year, the Directors propose a gross dividend of
EUR 1.44 per share to be paid to shareholders on May 30, 2008. This dividend is
subject to approval by shareholders at the Ordinary General Meeting of May 22,
2008 and has not been included as a liability in Delhaize Group’s consolidated
financial statements prepared under IFRS. The dividend is included in the statu-
tory financial statements prepared under Belgian GAAP (“the annual accounts”).
The total estimated dividend, based on the number of shares outstanding at
March 5, 2008 is EUR 144.4 million.
As a result of the conversion of convertible bonds issued in April 2004 and/or
the exercise of warrants issued under the Delhaize Group 2002 Stock Incentive
Plan, the Company may have to issue new ordinary shares, to which payment in
2008 of the 2007 dividend is entitled, between the date of adoption of the annual
accounts by the Board of Directors and the date of their approval by the Ordinary
General Meeting of May 22, 2008. The Board of Directors will communicate at
the Ordinary General Meeting of May 22, 2008 the aggregate number of shares
entitled to the 2007 dividend and will submit at this meeting the aggregate final
amount of the dividend for approval. The annual accounts of 2007 will be modi-
fied accordingly. The maximum number of shares which could be issued between
March 5, 2008, and May 22, 2008, assuming that all convertible bonds were to
be converted and all vested warrants were to be exercised, is 4,712,132. This
would result in an increase in the total amount to be distributed as dividends to
a total of EUR 6.8 million.
14. Receivables
(in millions of EUR) 2007 2006 2005
Trade receivables 488.2 437.2 419.0
Trade receivables - bad debt
allowance (15.3) (19.4) (18.0)
Other receivables 91.7 109.3 81.6
Total current receivables 564.6 527.1 482.6
DELHAIZE GROUP / ANNUAL REPORT 2007 79