Financing and liquidity
Group funds increased from EUR 2,555 million
to EUR 2,866 million.
EUR 0.40 (NLG 0.88) be paid out in cash per
share of NLG 5.00 (EUR 2.27) par value (1998:
EUR 0.32 or NLG 0.70 respectively). An interim
dividend of EUR 0.14 (NLG 0.30) was already
paid out on September 17,1999. The final
dividend will therefore amount to EUR 0.26.
The proposed dividend represents a total
amount in dividend of EUR 125 million and
has been incorporated in the financial
statements. It is proposed that the balance of
the net profit, EUR 391 million, be added to the
general reserve.
Shareholders' equity on 31 December 1999
amounted to EUR 2,618 million compared with
EUR 2,299 million in 1998. Thanks to the net
profit of EUR 516 million and revaluation of
EUR 34 million, shareholders' equity improved.
This was offset by the goodwill charge of EUR 106
million and the proposed dividend of EUR [25
million.
A total of EUR 83 million was raised in long-
term loans, EUR 50 million of which to finance
expansions in Poland. Repayments of loans
amounted to EUR 97 million and were made
mainly in France, Poland and Indonesia.
On December 31, 1999, total liquid resources
amounted to EUR 1,207 million. Liquid resources
are largely earmarked for new acquisitions and the Amsterdam, March 1, 2000
payment in 2000 of the acquisition of Cruzcampo,
Spain. The net cash position amounted to EUR 246 Vuursteen
million (1998: EUR 121 million), being the result of Ruys
interest-bearing debts of EUR 961 million and Lubsen
liquid resources of EUR 1,207 million.
Appropriation of profit
In compliance with Article 12 of our Articles of
Association, it will be proposed to the general
meeting of shareholders that a dividend of
HEINEKEN N. V.
REVIEW OF THE
EXECUTIVE BOARD
19 9 9
39
