Heineken N.V. annual report 1987
13
The capital employed:
Changes in the financing:
(in millions of guilders)
(in millions of guilders)
1987
1986
Amount
Amount
Fixed assets
4.020
66
3,467
60
Current assets
2.031
34
2,314
40
6,051
100
5,781
100
N.fl. 21 million was received in the form
of investment facilities.
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, fell by
N.fl. 144 million. This was mainly due to
the high level of investment and the
repayment of long-term debts.
1987
1986
Appropriation of profit
According to the Profit and Loss Account
of Heineken N.V. the net profit is
N.fl. 286,683,000.
In accordance with Article 12 of the Com
pany's Articles of Association it is pro
posed that an amount of N.fl. 89,911,000
shall be appropriated for payment of divi
dend. This proposal corresponds to a
dividend of 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 18, 1987.
It is proposed that the remainder of
N.fl. 196,772,000 shall be added to the
General Reserve.
If the above proposal is approved by the
General Meeting of Shareholders to be
held on April 28, 1988, the final dividend
for the year of N.fl. 2 - per share of
N.fl. 25 - will be made payable on divi
dend coupon No. 37 on May 16, 1988.
Source less application
Long-term borrowings
Repayments on long-term borrowings
Other financing
Movements in cash and securities and indebtedness to bankers
- 101
121
-193
29
- 144
- 83
313
- 132
70
168
Net profit
(in millions of guilders)
1983 1984 1985 1986 1987
