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4 Equity attributable to shareholders of Bouwinvest Dutch Institutional Office Fund N.V.

For 2018, before appropriation of result

 

Issued capital

Share premium

Revaluation reserve*

Retained earnings

Net result for the year

Total equity

Balance at 1 January 2018

275,035

279,196

74,104

(68,635)

71,746

631,446

       

Comprehensive income

      

Net result

-

-

-

-

75,962

75,962

Total comprehensive income

-

-

-

-

75,962

75,962

       

Other movements

      

Issued shares

32,682

47,318

-

-

-

80,000

Appropriation of result

-

-

-

71,746

(71,746)

-

Dividends paid

-

-

-

(16,167)

-

(16,167)

Movement revaluation reserve

-

-

39,833

(39,833)

-

-

Total other movements

32,682

47,318

39,833

15,746

(71,746)

63,833

Balance at 31 December 2018

307,717

326,514

113,937

(52,889)

75,962

771,241

* See explanation dividend restrictions in Note 17 of the consolidated financial statements.

For 2017, before appropriation of result

 

Issued capital

Share premium

Revaluation reserve*

Retained earnings

Net result for the year

Total equity

Balance at 1 January 2017

252,373

251,858

17,273

(26,022)

30,506

525,988

       

Comprehensive income

      

Net result

-

-

-

-

71,746

71,746

Total comprehensive income

-

-

-

-

71,746

71,746

       

Other movements

      

Issued shares

22,662

27,338

-

-

-

50,000

Appropriation of result

-

-

-

30,506

(30,506)

-

Dividends paid

-

-

-

(16,288)

-

(16,288)

Movement revaluation reserve

-

-

56,831

(56,831)

-

-

Total other movements

22,662

27,338

56,831

(42,613)

(30,506)

33,712

Balance at 31 December 2017

275,035

279,196

74,104

(68,635)

71,746

631,446

* See explanation dividend restrictions in Note 17 of the consolidated financial statements.

Issued capital

The authorised capital comprises 1 million shares each with a nominal value of € 1,000. As at 31 December 2018, in total 307,717 shares had been issued and fully paid up.

Share premium

The share premium reserve consists of capital paid on shares in excess of the nominal value. At the establishment of the Fund, the shareholder bpfBOUW contributed an investment property portfolio under legal title of share premium.

Revaluation reserve

The revaluation reserve relates to the revaluation of the property investments. The (unrealised) positive or negative difference between the cumulative increase or decrease in the fair value of the investment property owned at the end of the year has been included in the revaluation reserve. The revaluation reserve as at year-end 2018 was determined at the individual property level.

Appropriation of profit 2017

The Annual General Meeting of shareholders on 18 April 2018 adopted and approved the 2017 financial statements of the Office Fund. A dividend of € 59.81 (in cash) per share has been paid. Of the profit for 2017 amounting to € 71.7 million, € 71.7 million was incorporated in the retained earnings.

Proposal for profit appropriation 2018

The management of the Fund proposes to the General Meeting of shareholders that a dividend of € 52.98 (in cash) per share be paid. Of the profit for 2018 amounting to € 76.0 million, € 76.0 million will be incorporated in the retained earnings.

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