Unilever 1999 Annual Report Download - page 46

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Further statutory information
Unilever N.V.
The rules for profit appropriation in the Articles
of Association (summary of Article 41)
The profit of 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.
Fl. million
1999 1998
Proposed profit appropriation
Profit of the year 4015 7 174
Preference dividends (44) (15)
Profit at disposal of the Annual
General Meeting of shareholders 3971 7 159
Ordinary dividends (1 577) (10 889)
Profit of the year retained 2394 (3 730)
Profit retained – 1 January 2388 6 118
Profit retained – 31 December 4782 2 388
Special controlling rights under the Articles of Association
See note 20 on page 20.
Auditors
A resolution will be proposed at the Annual General Meeting on
3 May 2000 for the reappointment of PricewaterhouseCoopers
N.V. as auditors of NV. The present appointment will end at the
conclusion of the Annual General Meeting.
JWB Westerburgen
SG Williams
Joint Secretaries of Unilever N.V.
7 March 2000
Corporate Centre
Unilever N.V.
Weena 455
PO Box 760
3000 DK Rotterdam
46 Unilever Annual Accounts 1999