Dividend Policy
It is the Board of Directors’ present intention to recommend to the Shareholders’ Meeting an annual gross dividend based on a target payout ratio of a minimum of 30% of consolidated net profit after tax. This policy will be reviewed by the Company on at least an annual basis and if the policy changes the Company will inform the market accordingly.
| Period | Dividend per Share | Payment Date | Record Date |
|---|---|---|---|
| Full Year 2007 | €0.40 | 07-May-08 | - |
No assurance can be given, however, that the Company will make dividend payments in the future. Such payments will depend upon a number of factors, including our prospects, strategies, results of operations, earnings, capital requirements and surplus, general financial conditions, contractual restrictions and other factors considered relevant by the Board of Directors. Pursuant to Belgian law, the calculation of amounts available for distribution to shareholders, as dividends or otherwise, must be determined on the basis of the Company’s non-consolidated Belgian GAAP financial statements. In accordance with Belgian company law, the Company’s articles of association also require that the Company allocate each year at least 5% of its annual net profits to its legal reserve, until the legal reserve equals at least 10% of the Company’s share capital. As a consequence of these factors, there can be no assurance as to whether dividends or similar payments will be paid out in the future or, if they are paid, their amount.
