13
Appropriation of profit
According to the Profit and Loss Account
the net profit is N.fl. 285,346,000. In ac
cordance with Article 12 of the Articles
of Association of Heineken N.V. it is pro
posed that an amount of N.fl. 89,911,000
shall be appropriated for payment of divi
dend.
This corresponds to N.fl. 3.50 per share
of N.fl. 25,of which an amount of
N.fl. 1.50 per share was already made
payable as interim dividend on September
19, 1986. It is proposed that the remain
der of N.fl. 195,435,000 shall be added
to the General Reserve.
If this proposal is approved by the Gen
eral Meeting of Shareholders to be held
on April 24, 1987, the final dividend of
N.fl. 2.per share of N.fl. 25,for the
financial year will be made payable on
dividend coupon No. 35 on May 15, 1987.
The shares issued at the time of the
recent bonus issue fully qualify for divi
dend.
Net profit
(in millions of guilders)
The capital employed:
(in millions of guilders): 1986 1985
Amount Amount
Fixed assets 3,467 60 3,243 62
Current assets 2,314 40 2,007 38
5,781 1ÖÖ 5,250 100
The liquidity position, consisting of the
sum of cash at bank and in hand and
securities less the short-term indebted
ness to credit institutions, rose by
N.fl. 168 million to N.fl. 591 million.
Changes in the financing:
(in millions of guilders): 1986 1985
Source less Application 83 16
Long-term borrowings 313 181
Repayments on long-term borrowings 132 111
Other financing 70 48
Movements in cash and securities and indebtedness to bankers 168 134