20. Retained profits


On a resolution proposed by the Management Board and approved by the Supervisory Board, the General Meeting of Shareholders voted to declare a dividend of 150.3 million euros over 2017. This amount was deducted from retained profits when paid in 2018. The dividend for 2016, which amounted to 148.4 million euros, was paid out and deducted from the retained profits in 2017.

Given the legal obligation to recognise a Revaluation reserve and Other Statutory reserves an amount of 145.3 million euros was subtracted from the Retained profits and added to the Revaluation reserve and Other Statutory reserves in 2018 as detailed under Shareholders' equity. The proposed dividend over 2018 is 117.4 million euros, or 631 euros per share.

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21. Other reserves