Dividend policy

In fixing the dividend on ordinary shares, the aim is a long-term average dividend of approximately 40% of the net group result attributable to equity holders, allowing for the strategy and a healthy balance sheet. The statutory dividend on the ordinary participating preference shares is € 0.21, if and insofar as the distributable profit is sufficient to pay the statutory dividend.

Under the renewed financing agreement up to March 2014, the Company can, from 2012 onward, distribute a dividend if it can be paid from the previous year’s net profit and cash flow..

Dividend payment/adoption

In view of the company’s financial position, together with the obligations under the renewed financing agreement, no dividend will be paid in respect of the financial year 2010.