96
Notes to the Consolidated Financial Statements (continued)
22. Capital and reserves (continued)
Share premium
Translation reserve
Hedging reserve
Fair value reserve
Other legal reserves
Reserve for own shares
Dividends
468
307
775
490
296
786
Non-controlling interests
Report of the
Report of the
Financial
Sustainability
Other
Introduction
Executive Board
Supervisory Board
Statements
Review
Information
Heineken N.V. Annual Report 2017
Asat31 December 2017, the share premium amounted to €2,701 million (2016: €2,701 million).
The translation reserve comprises foreign currency differences arising from the translation of the financial statements of foreign operations of
HEINEKEN (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.
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.
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.
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.
Furthermore, part of the reserve comprises a legal reserve for capitalised development costs.
The reserve for the Company's own shares comprises the cost of the Company's shares held by HEINEKEN. As at 31 December 2017, HEINEKEN
held 5,808,418 of the Company's shares (2016: 6,321,833).
The following dividends were declared and paid by HEINEKEN:
In millionsof 2017 2016
Final dividend previous year €0.82, respectively €0.86 perqualifying ordinary share
Interim dividend current year €0.54, respectively €0.52 perqualifying ordinary share
Total dividend declared and paid
For 201 7, a payment of a total cash dividend of €1.47 per share (2016: €1.34) will be proposed at the AGM. If approved, a final dividend of €0.93
per share will be paid on 2 May 2018, as an interim dividend of €0.54 per share was paid on 10 August 201 7. The payment will be subject to
15% Dutch withholding tax.
After the balance sheet date, the Executive Board proposed the following appropriation of profit. The dividends, taking into account the interim
dividends declared and paid, have not been provided for.
In millionsof 2017 2016
Dividend perqualifying ordinary share €1.47 (2016: €1.34)
Addition to retained earnings
Net profit
838
1,097
1,935
763
777
1,540
The non-controlling interests (NCI) relate to minority stakes held by third parties in HEINEKEN consolidated subsidiaries. The total non-controlling
interest as at 31 December 2017 amounted to €1,200 million (2016: €1,335 million).
