Unilever 2003 Annual Report Download - page 151

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148 Unilever Annual Report & Accounts and Form 20-F 2003
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
2003 2002
Restated
Proposed profit appropriation
Profit for the year 1 712 4 071
Preference dividends (27) (42)
Profit at disposal of the Annual General
Meeting of shareholders 1 685 4 029
Ordinary dividends (962) (946)
Profit for the year retained 723 3 083
Profit retained – 1 January 6 581 3 498
Profit retained – 31 December 7 304 6 581
Special controlling rights under the Articles of Association
See note 21 on page 110.
Auditors
A resolution will be proposed at the Annual General Meeting on
12 May 2004 for the re-appointment 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.
2 March 2004