Financial Statements continued Notes to the consolidated financial statements continued 22. Total equity Translation reserve The translation reserve comprises foreign currency differences arising from the translation of the financial statements of foreign operations of the Company (excluding amounts attributable to minority interests). Other legal reserves These reserves relate to the share of profit of joint ventures and associates over the distribution of which Heineken does not have control. The movement in these reserves reflects retained profits of joint ventures and associates minus dividends received. Hedging reserve This reserve comprises the effective portion of the cumulative net change in the fair value of cash flow hedging instruments where the hedged transaction has not yet occurred. Fair vale reserve This reserve comprises the cumulative net change in the fair value of available-for-sale investments until the investment is derecognised. Reserve for own shares The reserve for the Company's own shares comprises the cost of the Company's shares held by Heineken. At 31 December 2006 Heineken held 410,000 of the Company's shares (2005: nil). Dividends The following dividends were declared and paid by Heineken: In millions of EUR 2006 2005 Final dividend previous year €0.24 per qualifying ordinary share 118 118 Interim dividend current year €0.16 per qualifying ordinary share 78 78 Total dividend declared and paid 196 196 The Company intends to renew its dividend policy which will be applicable to the dividend for the financial year 2006. The proposal is subject to approval at the Annual General Meeting of shareholders of Heineken N.V. in April 2007. After the balance sheet date the Executive Board proposed the following dividends. The dividends have not been provided for. In millions of EUR 2006 2005 €0.60 per qualifying ordinary share (2005: €0.40) 294 196 Prior-year adjustments In 2006, BHI recognised IFRS transitional adjustments, which should have been reflected in the 2004 Heineken IFRS opening balance sheet. The prior year estimation error, with a negative impact of €10 million, is not considered material and is recognized in equity in 2006. Comparatives have not been restated. 23. Earnings per share Basic earnings per share The calculation of basic earnings per share at 31 December 2006 was based on the profit attributable to ordinary shareholders of the Company (net profit) of €1,211 million (2005: €761 million) and a weighted average number of ordinary shares outstanding during the year ended 31 December 2006 of 489,712,594 (2005: 489,974,594). Basic earnings per share for the year amount to €2.47. A Heineken N.V. J.UVJ Annual Report 2006

Jaarverslagen en Personeelsbladen Heineken

Jaarverslagen | 2006 | | pagina 103