(Appropriation of net income for the year ended on 31 December 2013 and dividend distribution)
The Annual General Meeting, in accordance with the quorum and majority requirements applicable to Ordinary General Meetings, allocates the net income of the BNP Paribas SA parent company financial statements as follows:
|Unappropriated retained earnings||22,451,312,708.26|
|Total net income to be appropriated||27,447,399,818.60|
|Total appropriated income||27,447,399,818.60|
The dividend for an amount of EUR 1,868,098,777.50 corresponds to a distribution of EUR 1.50 per ordinary share with a nominal value of EUR 2.00, with it being specified that the Board of Directors is fully authorised to post the fraction of the dividend corresponding to BNP Paribas treasury shares to the “Retained earnings” account.
The Annual General Meeting authorises the Board of Directors to deduct from “Retained earnings” account the sums required to pay the dividend fixed above for shares resulting from the exercise of stock options prior to the dividend payment date.
The proposed dividend is eligible for the allowance provided by article 158-3-2 of the French General Tax Code.
In addition, in accordance with article 117-quater of the French General Tax Code, dividends received from 2013 are subject to a mandatory provisional deduction at source, which constitutes a prepayment of income tax.
The ex-dividend date for the 2013 financial year will be on 20 May 2014 and the dividend will be paid in cash on 23 May 2014 with a record date at close of business on 22 May 2014 .
Pursuant to article 47 of Law No. 65-566 of 12 July 1965, the dividends for the last three financial years were as follows:
|Financial year||Nominal value||Number of shares||Net dividend per share||Amount of distribution eligible for the allowance pursuant to Article 158-3-2 of the French General Tax Code|
Presentation of the resolution
The third resolution proposes where corporate profits for the 2013 financial year should be allocated and that the dividend should be in cash.
BNP Paribas profits as at 31 December 2013 totalled EUR 4,996.087 million plus retained earnings carried forward of EUR 22,451.312 million; as a result, the total to be distributed amounts to EUR 27,447.399 million.
The dividend paid to the shareholders would total EUR 1,868.098 million, which corresponds to a distribution of EUR 1.50 per share.
An amount of EUR 25,579.301 million would be allocated to retained earnings carried forward.
The dividend would be detached from the share on 20 May 2014 for a payment on 23 May 2014 on the positions determined at close of business on 22 May 2014.