40 The proposed dividend is not expected to have a negative effect on the Company’s and Group’s ability to meet certain current liabili- WLHV7KH&RPSDQ\DQG*URXSKDYHVXI¿FLHQWDFFHVVWRERWKVKRUW term and long-term credits 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 ¿QDQFLDOSRVLWLRQRIWKH&RPSDQ\DQGWKH*URXS1RFLUFXPVWDQFH has arisen that makes the proposed dividend distribution appear XQMXVWL¿DEOH It is proposed that the record date for the dividend be May 19, 2017, and it is estimated that the dividend will be received by the shareholders on May 24, 2017. 3URSRVHGDSSURSULDWLRQRISUR¿WV 7KH%RDUGRI'LUHFWRUVDQG&KLHI(HFXWLYH2I¿FHUSURSRVHWKDW 7KHGLVSRVDEOHSUR¿WEURXJKWIRUZDUG SEK 3,834,015,571 DQGSUR¿WORVVIRUWKH\HDU 6(. Total SEK 3,814,884,025 be appropriated as follows: To be distributed to shareholders, a dividend of SEK 8.75 per share SEK 370,024,279 1) To be carried forward SEK 3,444,859,746 Total SEK 3,814,884,025 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 17, 2017 for adoption. Background to and explanation of the proposed dividend The Board of Directors has proposed that the 2017 Annual *HQHUDO0HHWLQJDSSURYHDQDSSURSULDWLRQRISUR¿WVXQGHUZKLFK the shareholders will receive a dividend of SEK 8.75 per share. The proposed dividend therefore totals SEK 370 million. The REMHFWLYHLVIRUWKHGLYLGHQGLQWKHORQJWHUPWRFRUUHVSRQGWR± SHUFHQWRIFRQVROLGDWHGSUR¿WVDIWHUWDZKLOHDOZD\VFRQVLGHULQJ $$.¶VORQJWHUP¿QDQFLQJUHTXLUHPHQWV7KH3DUHQWKDVQR ¿QDQFLDOLQVWUXPHQWVYDOXHGXQGHU&KDS6HFWLRQDRIWKH Swedish Annual Accounts Act (1995:1554). The Board of Directors hereby makes the following statement regarding the proposed dividend, in accordance with Chap. 18, Section 4, of the Swedish Companies Act (2005:551). 5HWDLQHGSUR¿WVIURPWKHSUHYLRXV\HDUWRWDO6(.PLOOLRQ DQGWKHSUR¿WIRUWKH¿QDQFLDO\HDULV6(.PLOOLRQ6(. 1,040 million for the Group). Provided that the 2017 Annual General Meeting approves the Board’s proposed appropriation RISUR¿WVDWRWDORI6(.PLOOLRQZLOOEHFDUULHGIRUZDUG7KH Company’s restricted equity will be fully covered after distribution of the dividend. ,QWKH%RDUG¶VMXGJHPHQWWKH&RPSDQ\DQGWKH*URXSZLOO UHWDLQVXI¿FLHQWHTXLW\DIWHUGLVWULEXWLRQRIWKHSURSRVHGGLYLGHQG in relation to the nature, scope and risks associated with its business operations. In making this assessment, the Board has taken account of the historical development of the Company and the Group, budgeted performance and the economic situation. 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 9 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 74 percent and 43 percent, respectively. These ratios are good in relation to other businesses LQRXULQGXVWU\7KH%RDUGRI'LUHFWRU¶VMXGJHVWKDWWKH&RPSDQ\ and the Group are in a good position to meet future business risk and 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.
AAK Annual Report 2016
To see the actual publication please follow the link above