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Rothschild & Co | Annual Report 2017
2.3 Proposed appropriation of income for the 2017 financial year
The Managing Partner will propose to the Combined General Meeting of shareholders that the income for the 2017 financial year be appropriated as follows:
In euro
31/12/17
(9 months)
Net profit for the financial year
121,763,776
Appropriation to the legal reserve
(32,500)
Credit retained earnings
109,992,321
Distributable profit
231,723,597
Profit share allocated to the General Partners
1,158,618
Appropriation
• to the payment of a gross dividend of €0.68 per share
(1)
to shareholders
52,637,108
• to retained earnings
177,927,871
(1) Out of a total of 77,262,472 shares and 145,040 investment certificates eligible for a dividend.
The Company’s net profit amounts to €121,763,776 (€60,712,772 for the previous 12-month year).
This net profit, less the amount of €32,500 assigned to create the legal reserve and in addition to retained earnings of €109,992,321 makes a
distributable net profit of €231,723,597 (€162,731,595 for the previous 12-month year).
In accordance with the provisions of article 14.1 of the Company’s articles of association, an amount of €1,158,618 (€813,658 for the previous 12-month
year) equal to 0.5% of this distributable profit will be automatically allocated for payment to the two General Partners, Rothschild & Co Gestion SAS and
Rothschild & Co Commandité SAS.
The payment of a dividend of €0.68 per share to shareholders will be submitted for approval to the General Meeting to be held on 17 May 2018. The
ex-dividend date shall be 22 May 2018 and the dividend shall be payable on 24 May 2018.
In accordance with applicable statutory provisions, the dividends distributed by the Company to the shareholders in respect of the previous three financial
years were as follows:
31/03/17
31/03/16
31/03/15
Number of shares and investment certificates which could qualify for a dividend payment
(1)
76,361,200 70,734,123
(2)
70,706,325
Gross dividend per share (in euro)
0.68
0.63
0.60
Total amount distributed (in euro)
51,925,616
(3)
44,562,497 42,423,795
(1) Number of shares and investment certificates that could qualify for a dividend, held on the detachment date and excluding treasury shares and investment certificates held by the Company.
(2) Adjusted amount compared to the 2016/2017 Management Report.
(3) As authorised by the General Meeting of 28 September 2017 in its 2
nd
resolution, the Managing Partner revised the final amount of the actual distribution as the Company did not receive a dividend
in respect of the shares it held on the payment date; the amount of the dividend corresponding to these shares was automatically added to retained earnings.
3 Accounts payable and accounts receivable policy
The Company’s settlement periods for its accounts payable comply with Article L. 441-6 and D. 441-1 of the French Commercial Code. Accounts payable
are settled within 30 days of receiving the invoice, unless otherwise arranged as part of a sales agreement or otherwise agreed between the parties.
Received invoices remaining unpaid as at the end of the last financial year
0 day
1 to 30
days
31 to 60
days
61 to 90
days
91 days
and more
Total
1 day and
more
(A) Late payment ranges
Aggregate number of concerned invoices
8
–
–
–
6
6
Aggregate amount due on concerned invoices (inclusive of all taxes) (in euro)
235,682
–
–
–
4,616
4,616
Percentage of the total amount of purchases of the financial year inclusive of all taxes
2%
–
–
–
0%
0%
(B) Reference terms of payment used (contractual or legal)
Terms of payment used for calculating the late payment
Legal terms
Contractual terms
Results for the 2017 financial year