Unilever 2008 Annual Report Download - page 149

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Further statutory and other information Unilever N.V.
146 Unilever Annual Report and Accounts 2008
Financial statements
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
2008 2007
Profit for the year (available for distribution) 1 713 1 406
Interim dividend already paid (401) (404)
To profit retained 1 312 1 002
Post balance sheet event
The directors propose a final dividend of €0.51 per share (totalling
€784 million) out of the profits retained for the year ended
31 December 2008. The dividend will be submitted for formal
approval at the Annual General Meeting to be held on 14 May
2009. 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 2009. During 2008, a final dividend
of €0.50 per share (totalling €779 million) was paid in respect of
the dividend declared for the year ended 31 December 2007.
Special controlling rights under the Articles of Association
See note 22 to the consolidated accounts on page 122.
Auditors
A resolution will be proposed at the Annual General Meeting on
14 May 2009 for the reappointment of PricewaterhouseCoopers
Accountants N.V. as auditors of Unilever N.V. The present
appointment will end at the conclusion of the Annual General
Meeting. For details of the remuneration of the auditors please
refer to note 32 on page 136.
Corporate Centre
Unilever N.V.
Weena 455
PO Box 760
3000 DK Rotterdam
The Netherlands
SHMADumoulin
Secretary of Unilever N.V.
3 March 2009