Report of the Report of the
Contents Overview Executive Board Supervisory Board
Financial
statements
Other information
Translation reserve
The translation reserve comprises foreign currency differences arising from the translation of the financial statements of foreign
operations of HEIN EKEN (excluding amounts attributable to non-controlling interests) as well as value changes of the hedging
instruments in the net investment hedges. HEINEKEN considers this a legal reserve.
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. HEINEKEN considers this a legal reserve.
Fair value reserve
This reserve comprises the cumulative net change in the fair value of available-for-sale investments until the investment is derecognised
or impaired. HEINEKEN considers this a legal reserve.
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 earnings of joint ventures and associates minus dividends received. In case
of a legal or other restriction which means that retained earnings of subsidiaries cannot be freely distributed, a legal reserve is recognised
for the restricted part.
Reserve for own shares
The reserve for the Company's own shares comprises the cost of the Company's shares held by HEINEKEN. As at 31 December 2013,
HEINEKEN held 1,010,213 of the Company's shares (2012:891,561).
During the period from 1 January to 31 December 2013 HEINEKEN acguired 375,000 shares for delivery against LTV and other share
-based payment plans.
Dividends
The following dividends were declared and paid by HEINEKEN:
In millions of EUR
2013
2012
Final dividend previous year EUR0.56, respectively EUR0.53 per qualifying ordinary share
323
305
Interim dividend current year EUR0.36, respectively EUR0.33 per qualifying ordinary share
207
189
Total dividend declared and paid
530
494
The Heineken N.V. dividend policy is to payout a ratio of 30 per cent to 35 per cent of full-year net profit (beia).The interim dividend
is fixed at 40 per cent of the total dividend of the previous year.
After the balance sheet date the Executive Board proposed the following dividends. The dividends, taking into account the interim
dividends declared and paid, have not been provided for.
2013
Per qualifying ordinary share EUR0.89 (2012: EUR0.89) 512 512
Heineken N.V. Annual Report 2013
