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

For 2019, before appropriation of profit

 

Issued capital

Share premium

Revaluation reserve*

Retained earnings

Net result for the year

Total equity

Balance at 1 January 2019

1,345,913

2,272,987

1,931,943

(667,095)

878,013

5,761,761

       

Comprehensive income

      

Net result

-

-

-

-

671,208

671,208

Total comprehensive income

-

-

-

-

671,208

671,208

       

Other movements

      

Issued shares

51,761

178,082

-

-

-

229,843

Appropriation of result

-

-

-

878,013

(878,013)

-

Dividends paid

-

-

-

(133,524)

-

(133,524)

Movement revaluation reserve

-

-

507,913

(507,913)

-

-

Total other movements

51,761

178,082

507,913

236,576

(878,013)

96,319

Balance at 31 December 2019

1,397,674

2,451,069

2,439,856

(430,519)

671,208

6,529,288

* See explanation dividend restrictions in Note 16 of the consolidated financial statements.

For 2018, before appropriation of profit

 

Issued capital

Share premium

Revaluation reserve*

Retained earnings

Net result for the year

Total equity

Balance at 1 January 2018

1,280,767

2,084,133

1,177,093

(427,961)

637,610

4,751,642

       

Comprehensive income

      

Net result

-

-

-

-

878,013

878,013

Total comprehensive income

-

-

-

-

878,013

878,013

       

Other movements

      

Issued shares

65,146

188,854

-

-

-

254,000

Appropriation of result

-

-

-

637,610

(637,610)

-

Dividends paid

-

-

-

(121,894)

-

(121,894)

Movement revaluation reserve

-

-

754,850

(754,850)

-

-

Total other movements

65,146

188,854

754,850

(239,134)

(637,610)

132,106

Balance at 31 December 2018

1,345,913

2,272,987

1,931,943

(667,095)

878,013

5,761,761

* See explanation dividend restrictions in Note 16 of the consolidated financial statements.

Issued capital

The authorised capital comprises five (5) million shares each with a nominal value of € 1,000. As at 31 December 2019, a total of 1,397,674 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 2019 was determined at the individual property level.

Appropriation of profit 2018

The Annual General Meeting of shareholders on 24 April 2019 adopted and approved the 2018 financial statements of the Residential Fund. A dividend of € 125.4 million (in cash) is paid. Of the profit for 2018 amounting to € 878 million, € 878 million was incorporated in the retained earnings.

Proposal for profit appropriation 2019

The management of the Fund proposes to the General Meeting of shareholders that a dividend of € 135.4 million (in cash) is to be paid. Of the profit for 2019 amounting to € 671.2 million, € 671.2 million will be incorporated in the retained earnings.

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