Estimate of the dividend for the 2009 financial year
Regulated information communicated by the National Bank of Belgium
Pressemitteilung: auf Englisch (pdf - 20k)
The rules on the distribution of proceeds of the National Bank were modified by the Law of 3 April 2009 amending the financial provisions of the Law of 22 February 1998 establishing the Organic Statute of the National Bank of Belgium.
On 22 July 2009, the Bank adopted and published its new reserve and dividend policy. The press release of 22 July 2009 can be found at the website of the Bank (www.nbb.be). During two information sessions, on 10 and 12 November 2009, these new rules will be explained in more detail by means of an introductory slideshow (additional slides), also available at the Bank's website, and during the subsequent question time.
In order to illustrate more clearly the application of the new reserve and dividend policy, the Bank has decided, exceptionally, to give an estimate of the expected dividend for the 2009 financial year.
On the basis of the current evaluation, for the entire 2009 financial year, of the return on the statutory portfolio, henceforth forming the basis for calculating the dividend, and of the average corporate tax rate due for the financial year, the Bank estimates, taking into account the new legal provisions and the new dividend policy, the total dividend for the 2009 financial year at 114 to 131.5 Euros gross per share. After deduction of withholding tax (25%), this would amount to 85.5 to 98.625 Euros net per share.
The result and the dividend are of course only final after the closing of the financial year, that runs until 31 December 2009, and after the approval of the annual accounts.