Annual report 2009 - Dexia.com

Notes to the consolidated fi nancial statements9.8. Minority interest – Core equityManagement reportAS AT 1 JAN. 2008 1,721- Increase of capital 97- Dividends (62)- Net income for the period 78- Variation of scope of consolidation (79)- Other 1AS AT 31 DECEMBER 2008 (1) 1,756AS AT 1 JAN. 2009 1,756- Increase of capital 2- Dividends (10)- Net income for the period 79- Variation of scope of consolidation (14)AS AT 31 DECEMBER 2009 (1) 1,813(1) This amount includes:- the undated deeply subordinated non-cumulative Notes for EUR 700 million, issued by DCL and booked for 698 million;- the undated subordinated non-cumulative Notes for EUR 500 million, issued by Dexia Funding Luxembourg and booked for EUR 498 million.Consolidatedfinancial statementsWithin the context of the extension of the States guarantee in favour of Dexia, Dexia didn’t make any payment of any discretionarycoupons on any hybrid Tier 1 instruments classified in minority interest.As a consequence, Dexia Funding Luxembourg and Dexia Crédit Local did not pay the coupons relating to their Tier 1 issues,respectively due 2 November 2009 and 18 November 2009. This leads to a decrease of EUR 37 million in the amount declaredas dividends paid to the minority interests in 2009 by comparison with the amount declared in 2008.Additional informationAnnual financial statements172Dexia Annual report 2009