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4.1 CONSOLIDATED FINANCIAL STATEMENTS AND NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
Note 13. DANONE shares, dividend, earnings per share
DANONE
REGISTRATION DOCUMENT 2015
135
Earnings per share
Year ended December 31
(in € per share, except for the number of shares)
Notes
2014
2015
Net income – Group share
1,119
1,282
Number of outstanding shares
As of January 1
586,419,586
600,078,700
Effect of changes during the year
13.3
13,659,114
15,146,325
As of December 31
600,078,700
615,225,025
Average number of outstanding shares
• Before dilution
594,472,798
609,647,527
Dilutive impact
Dividend in shares
776,192
394,921
Group performance shares
287,338
112,794
Other capital increase
−
−
• After dilution
595,536,328
610,155,241
Net income – Group share, per share
• Before dilution
1.88
2.10
• After dilution
1.88
2.10
Note 13.5. Dividend
Distributable reserves of the parent company
Danone
The legally distributable reserves of subsidiaries and associated
companies may differ from their reported retained earnings as
a consequence of (i) consolidation adjustments applied to their
separate financial statements, and (ii) the laws applicable in the
countries where the Group operates.
In the case of the Group, under French law, dividends can only be
paid out of the net income for the year and the distributable reserves
of the parent company Danone.
Payment of the 2014 dividend with the option
of a payment in shares
The Shareholders' Meeting on April 29, 2015 in Paris approved the
dividend proposed with respect to the 2014 fiscal year,
i.e.
€1.50 per
share, and decided that each shareholder could decide to receive
the dividend payment in cash or DANONE shares.
The option period was open from Thursday May 7, 2015 to Thursday
May 21, 2015, inclusive. The issue price of new shares distributed
as payment for the dividend was €57.26. It corresponds to 90% of
the average opening price listed on Euronext during the 20 market
trading days prior to the date of the Shareholders' Meeting, less the
amount of the dividend and rounded to the next highest euro cent. The
settlement and delivery of the shares and their admission to trading
on Euronext occurred on June 3, 2015. These shares carry dividend
rights as of January 1, 2015 and are fungible with existing shares.
A total of 65.95% of the rights were exercised in favor of the 2014
dividend payment in shares.
Year ended December 31, 2015
(in € millions except for the number of shares)
Number of
outstanding shares
Consolidated
equity
Consolidated cash flow
used in financing
transactions
Portion paid in newly issued shares
(a)
10,321,148
−
−
Portion paid in cash
−
314
314
Total
10,321,148
314
314
(a) Or 1.60% of Danone's share capital based on the capital as of April 30, 2015.