The proposed dividend for a financial year must be approved by the AGM and the dividend is paid after this meeting. Dividend payments are only allowed to the extent that the shareholders’ equity is in excess of the sum of the paid-up capital and any reserves required under Dutch law.
Dividend payments shall be made not later than fourteen days after adoption of the dividend.
The Executive Board, with the approval of the Supervisory Board, determines which part of the profit is to be appropriated to the reserves. The remaining profit may be distributed as a dividend to the holders of the shares. The AGM may, at the proposal of the Executive Board which has been approved by the Supervisory Board, resolve that a payment of dividend on shares be wholly or partly in shares.
If a loss is sustained in any year, no dividend shall be distributed for that year and for subsequent years until the loss has been defrayed out of the profit. The AGM may however resolve on a motion of the Executive Board which has been approved by the Supervisory Board, to defray any such loss out of the distributable part of the shareholders’ equity or to charge the dividend to the distributable part of the shareholders’ equity.