Provision in the Articles of Association concerning the appropriation of the net result
The provision and the appropriation of the net profit is based upon the Articles of Association and the Agreement State-FMO of November 16, 1998.
The General Meeting will determine which portion of the result of a financial year is reserved or in which way a loss will be incorporated. The Supervisory Board and the Management Board can make a non-binding proposal in accordance with the provision and dividend policy adopted by the General Meeting, taking into account the relevant provisions in the Agreement State-FMO of November 16, 1998.
Proposal for appropriation of the net result
A company net profit of €490,690k was recorded in 2021. Under the Agreement State-FMO of November 16, 1998, FMO is required to add €477,859k to the contractual reserve. Therefore the 2021 profit is not completely distributable. The distributable element of the net profit amounts to €12,831k (2020: €0). The Management Board and the Supervisory Board propose distributing a sum of €12,831k as cash dividend equaling €32.08 per A and B share. This proposal for dividend distribution can be withdrawn if FMO's economical and financial conditions deteriorate significantly in the period up to the moment of distribution of the dividend.