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APPROPRIATION
OF COMPANY RESULTS
The Board of Directors proposes to the Ordinary General Shareholders’
Meeting of 11.05.2016 to approve the annual statements at 31.12.2015, to
appropriate the result as indicated in the table hereafter and to distrib-
ute the following dividends:
•
5.50 EUR gross, i.e. 4.015 EUR net per ordinary share;
•
6.37 EUR gross, i.e. 4.650 EUR net per preference share.
The dividend payment dates and terms are mentioned in the share-
holder’s agenda on page 139. The deduction for withholding taxes
stands at 27%.
At 31.12.2015, the Cofinimmo Group held 50,114 ordinary treasury shares.
The Board of Directors proposes to suspend the right to a dividend for
financial year 2015 of 40,225 own ordinary shares as part of its stock
option plan and to cancel the right to dividend of the remaining 9,889
own shares. The remuneration of the capital is based on the number
of ordinary and preference shares outstanding on 31.12.2015. Possible
conversions of preference shares into ordinary shares during the
conversion period from 22.03.2016 to 31.03.2016, the conversion of
convertible bonds into ordinary shares, as well as any sale of ordinary
shares held by the Group, might modify the remuneration of the capital.
As a result of the debt decrease between the beginning and the end
of financial year 2015 (change of -153.2 million EUR), the company has
no obligation to distribute a dividend (see the “Company Accounts”
chapter of this Annual Financial Report). However, in accordance with
what was proposed in the past, Cofinimmo wishes to remunerate its
shareholders on a regular basis and proposes a gross dividend of
5.50 EUR per ordinary share for financial year 2015.
The new shares issued on 12.05.2015 during the capital increase are
remunerated on pro rata basis, namely a gross dividend of 3.54 EUR
and a net dividend of 2.58 EUR
After the remuneration of the capital of 110.10 million EUR proposed for
financial year 2015, the total amount of the reserves and the company
result of Cofinimmo SA/NV will stand at 39.08 million EUR, whereas the
remaining distributable amount in accordance with the provisions of
Article 617 of the Company Code will reach 168.39 million EUR (also see
the “Company Accounts” chapter of this Annual Financial Report).
The 2015 consolidated net current result (Group share) stands at
97.71 million EUR and the consolidated net result (Group share) at
103.97 million EUR. The pay-out ratio on the consolidated net current
result (IAS 39 excluded) of 128.11 million EUR amounts to 86% (com-
pared with 82% for 2014).
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Management report /
appropriation OF Company resultS