Beter Bed dividend proposal approved and Management Board and Supervisory Board composition
The Annual General Meeting of Beter Bed Holding N.V. held on 18 May 2017 declared a final dividend of € 0.40 per ordinary share of nominally € 0.02 each for the 2016 financial year.
An interim dividend of € 0.34 was paid in November 2016. The total dividend for 2016 consequently amounts to € 0.74, resulting in a pay-out ratio of 85%. A dividend of € 0.87 was paid for 2015 (pay-out ratio: 85%). The final dividend will be paid entirely in cash.
The following schedule will apply to the payment of the dividend:
22 May 2017 listing ex-dividend
23 May 2017 record date
8 June 2017 payment of dividend
Beter Bed Holding N.V.'s dividend policy focuses on maximising shareholder returns whilst maintaining a healthy capital position. Subject to conditions, the company's objective is to pay out at least 50% of the realised net profit to the shareholders. This payment will be made in the form of an interim dividend following publication of the third-quarter figures and a final dividend following the approval of the dividend proposal by the Annual General Meeting. This system makes it possible to spread out payment of the dividend evenly over the year. The payment of the dividend may never result in the company's solvency falling below 30% on any publication date. Furthermore, the net interest-bearing debt/EBITDA ratio may not exceed two.
Management Board and Supervisory Board composition
At the Annual General Meeting on 18 May 2017, Mr B.F. Koops was reappointed as Statutory Director for a term ending after the first Annual General Meeting to be held after four years upon his appointment. The composition of the Management Board of Beter Bed Holding N.V., Mr A.H. Anbeek (CEO) and Mr B.F. Koops (CFO), is maintained.
Also Mr W.T.C. van der Vis, who already has completed a term as Supervisory Director, was reappointed as Supervisory Director for a term ending after the first Annual General Meeting to be held after four years upon his appointment. The composition of the Supervisory Board of Beter Bed Holding N.V., Mr D.R. Goeminne (Chairman), Mr A.J.L. Slippens (Vice Chairman), Ms E.A. de Groot and Mr W.T.C. van der Vis, remains unchanged.
Beter Bed Holding is a European retail organisation that strives to offer its customers a comfortable and healthy night's rest every night at an affordable price. The retail formats ensure products of good quality, offer customers the best advice and always the best possible deal. Beter Bed Holding is also active as a wholesaler of branded products in the bedroom furnishing sector via its subsidiary DBC International (M line).
The current total number of stores is 1,202. In 2016, the company achieved net revenue of € 410.5 million and an EBITDA of € 37.5 million.
For more information:
Ton Anbeek Bart Koops
Chief Executive Officer Chief Financial Officer
+31 (0)413 338819 +31 (0)413 338819
+31 (0)6 53662838 +31 (0)6 46761405
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