ANNUAL REPORT 2007 | 2008 - Gimv

6 - Dividend policy
The Board of Directors proposes to the General Shareholders’
Meeting an appropriation of the result such that dividends grow
at least in line with infl ation, insofar as there is enough profi t
available for appropriation.
As an investment company, however, Gimv’s earnings are determined
by both realized and unrealized capital gains and losses.
No guarantee can therefore be given that this dividend policy
will be continued unchanged in the future.
Thanks to the strong results of the fi rst half of 2007-2008, the
Gimv Board of Directors decided to pay in December 2007 a
one-off interim dividend (EUR 2.00 gross per share - coupon
no. 14). In arriving at this amount the Board took into account
the customary assessment of the cash position with a view to
maximum value creation for shareholders, the long-term IRR
and the growth strategy.
5
4
3
2
1
0
Gross dividend per share
(in EUR)
1997 1998 1999 2000 2001 2002 2003 2004 1 2005 2 2006/2007 3 2007/2008 4
1 Extraordinary interim dividend of EUR 0.74 per share (payable from 29 October 2004) + fi nal dividend of
EUR 1.65 per share (payable from 31 May 2005)
2 Extraordinary interim dividend of EUR 1.3333 per share (payable from 15 November 2005) + fi nal dividend of
EUR 2.20 per share (payable from 6 June 2006)
3 Extraordinary interim dividend of EUR 1.3333 per share (payable from 6 December 2006) + fi nal dividend of
EUR 2.85 per share (payable from 2 July 2007)
4 Extraordinary interim dividend of EUR 2.00 per share (payable from 6 December 2007) + fi nal dividend of
2.36 EUR per share (payable from 3 July 2008)
Gimv will in future be constantly assessing its cash position
to guarantee maximum value creation. With this in mind the
Board of Directors will be proposing to the General Meeting of
25 June 2008 that it approve the payment of a gross dividend
of EUR 4.36 per share before deduction of withholding tax.
After deduction of 25 percent investment withholding tax, the
net dividend amounts to EUR 3.27 per share.
The balance of this dividend amounts to EUR 2.36 gross per
share. Compared with the annualized dividend for 2006-2007,
this represents a rise of 3.51 percent. The fi nal dividend will be
payable on 3 July 2008 against presentation of coupon no. 15
at KBC Bank. In this way the Board of Directors confi rms the
dividend policy.
Final dividend
Extraordinary interim dividend
Final dividend of the
three supplementary months of
the extended fi nancial year
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