ACCIONA, S.A. AND SUBSIDIARIES (Consolidated Group ...

30.- Proposed distribution of profit
The distribution of Acciona, S.A.'s profit for 2011 and 2010, which, in the case of 2010, was
approved by the shareholders at the Annual General Meeting and, in the case of 2011, will be
proposed by the Board of Directors for approval by the shareholders at the Annual General
Meeting, is as follows (in euros):
2011 2010
Distribution basis:
Acciona, S.A. profit
Distribution:
226,493,862.00 243,680,281.96
To legal reserve -- --
To bylaw reserve 22,649,386.20 24,368,028.20
To voluntary reserves 13.194,475.80 22,307,253.76
Dividends 190,650,000.00 197,005,000.00
Total 226,493,862.00 243,680,281.96
Under its bylaws, Acciona, S.A. must in any case allocate 10% of net profit to the legal and bylaw
reserves. Once the balance of the legal reserve has reached 20% of the share capital, any
remaining portion of the 10% of net profit must be transferred to the bylaw reserve. This reserve
is unrestricted.
31.- Environmental matters
The Acciona Group carries out environmental management activities and projects in accordance
with its environmental strategy and policy, environmental protection being the backbone of this
strategy. The main environmental projects, by division, were as follows:
A) INFRASTRUCTURE. The environmental activity expenses recognised directly in the
income statement amounted to EUR 34,851 thousand in 2011 (2010: EUR 3,470
thousand).
B) TRANSPORT. Expenses of an environmental nature in 2011 amounted to EUR 4,734
thousand (2010: EUR 2,014 thousand) and environmental investments in 2011 amounted
to EUR 447 thousand.
In 2011 Acciona Trasmediterránea was granted a reduction in its levies as a result of the
improvements in environmental conditions, beyond the requirements of the applicable
legislation. Compliance with these requirements was verified using an environmental
management system. This reduction in the levies for port concessions/facility activities
amounted to EUR 163 thousand.
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