Unilever 2007 Annual Report Download - page 133

Download and view the complete annual report

Please find page 133 of the 2007 Unilever annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 148

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139
  • 140
  • 141
  • 142
  • 143
  • 144
  • 145
  • 146
  • 147
  • 148

Unilever Annual Report and Accounts 2007 131
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
2007 2006
Profit for the year (available for distribution) 1 406 1 847
Interim dividend already paid (404) (382)
One-off dividend 2006 –(432)
To profit retained 1 002 1 033
Post balance sheet event
The directors propose a final dividend of €0.50 per share (totalling
€796 million) out of the profits retained for the year ended
31 December 2007. The dividend will be submitted for formal
approval at the Annual General Meeting to be held on 15 May
2008. 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 2008. During 2007, a final dividend
of €0.47 per share (totalling €775 million) was paid in respect of
the dividend declared for the year ended 31 December 2006.
Special controlling rights under the Articles of Association
See note 22 to the consolidated accounts on page 109.
Auditors
A resolution will be proposed at the Annual General Meeting on
15 May 2008 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
S H M A Dumoulin
Secretary of Unilever N.V.
10 March 2008