38 Proposed appropriation of profits The Board of Directors and Chief Executive Officer propose that The disposable profit brought forward SEK 4,060,362,677 new share issue SEK 101,353,200 and profit/loss for the year SEK 35,484 Total SEK 4,161,751,361 be appropriated as follows: To be distributed to shareholders, a dividend of SEK 7.75 per share SEK 327,735,790 1) To be carried forward SEK 3,834,015,571 Total SEK 4,161,751,361 1) Calculated on the number of outstanding shares as at the balance sheet date. The Group’s and the Parent’s income statements and balance sheets will be presented to the Annual General Meeting on May 11, 2016 for adoption. In the view of the Board, the Company and the Group are in a position and have the capacity, in both the short and long terms, to meet all their obligations. The proposed dividend represents a total of 7 percent of the Company’s equity and 5 percent of the Group’s equity attributable to the Parent’s shareholders. After payment of the dividend, the equity/assets ratio of the Company and the Group will be 80 percent and 47 percent, respectively. These ratios are good in relation to other businesses in our industry. The Board of Director’s judges that the Company and the Group are in a good position to meet future business risk as well as withstand possible losses. Distribution of the dividend will not negatively affect the ability of the Company and the Group to make further investment as planned by the Board of Directors. The proposed dividend distribution will have a temporary negative effect on the Company’s and Group’s ability to meet certain current liabilities. However, the Company and Group have sufficient access to both short and long-term credit that can be obtained at short notice. The Board of Directors therefore considers that the Company and the Group are prepared for likely changes to liquidity, as well as unforeseen events. In addition, the Board of Directors has considered other known circumstances that may materially affect the financial position of the Company and the Group. No circumstance has arisen that makes the proposed dividend distribution appear unjustifiable. It is proposed that the record date for the dividend be May 13, 2016, and it is estimated that the dividend will be received by the shareholders on May 18, 2016.
AAK Annual Report 2015
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