contents - BNP Paribas

APPROPRIATION OF
INCOME
The Board of Directors is
recommending that the Annual
Stockholders’ Meeting on 13 May
1998 appropriate 1997 net
income of 2,099,873,372.74,
APPROPRIATION OF INCOME FOR 1997
plus FRF 1,508,425,777.99 of
unappropriated retained earnings,
giving an amount available for
distribution of 3,608,299,150.73,
as follows:
• appropriation to the legal reserve
of FRF 14,522,987.50
Debit (in French francs) Credit (in French francs)
Taking into account a 2.8%
increase in the number of shares
outstanding, earnings per share
(net income attributable to
Group divided by the average
number of shares outstanding
during the period) amounted to
FRF 28.26 in 1997, compared
• appropriation to other
reserves and carry-forward
as retained earnings of
FRF 2,101,057,047.23
• distribution of a dividend of
FRF 1,492,719,116.00 to the
stockholders of BNP SA.
To the legal reserve 14,522,987.50 Unappropriated retained earnings,
prior years 1,508,425,777.99
Transfer to other reserves 774,031,912.20 Net income after operating expense,
Dividend distribution 1,492,719,116.00 depreciation, and provisions for
Retained earnings carried forward 1,327,025,135.03 general risks and commitments 2,099,873,372.74
Total debits 3,608,299,150.73 Total credits 3,608,299,150.73
with FRF 18.69 in 1996,
FRF 9.31 in 1995, FRF 8.95
in 1994, and FRF 6.65 in 1993,
the year of privatization.
1997 1996 1995 1994 1993
Net income attributable to Group,
millions of French francs 5,962 3,856 1,784 1,656 1,018
Total net dividend, millions of
French francs 1,493 1,120 694 608 552
Payout ratio 25.0% 29.0% 38.9% 36.7% 54.2%
Number of shares outstanding
at 31 December (a) 213,244,188 207,434,993 192,183,938 190,046,159 184,008,556
Earnings per share, French francs 28.26 18.69 9.31 8.95 6.65
Net dividend per share, French francs 7.00 (c) 5.40 3.60 (b) 3.20 3.00
(a) Including nonvoting shares until 1993.
(b) Paid to 192,904,218 shares, taking into account the 720,280 new shares created on 27 February 1996 following the public tender
offer for BNP España.
(c) Paid to 213,245,588 shares, taking into account the 1,400 new shares with rights from 1 January 1997 subscribed under the
1995-2002 stock option plan.
The net dividend per share (excluding the dividend tax credit) is FRF 7.00, up 29.6% from the previous year’s
dividend.
B O A R D O F D I R E C T O R S
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