The Supervisory Board is pleased to present the annual report, which includes the financial statements for 2016. The annual report was compiled by the Management Board. KPMG Accountants N.V. have audited the financial statements and issued an unqualified audit opinion. For further details, see Other information under the Financial Statements section of this report. The Audit Committee has discussed the financial statements extensively with the Chief Financial Officer (CFO), her team and the external auditor. The Supervisory Board subsequently discussed the annual report with the Management Board in the presence of the external auditor. These discussions have convinced the Supervisory Board that this annual report meets all relevant regulations and fulfils all governance and transparency requirements and that it provides a sound basis for our Board's supervisory accountability.
The Supervisory Board approves the financial statements and concurs with the Management Board's proposal to distribute a dividend of 148.4 million euros on the issued share capital. After an addition to the revaluation reserve amounting to 58.1 million euros and a release from the other statutory reserves of 0.1 million euros, the remaining portion of 99.7 million euros will be added to the retained earnings.
The financial statements will be put before the General Meeting of Shareholders for adoption by the shareholders on 18 April 2017. The Supervisory Board proposes that the Management Board be granted discharge in respect of the management carried out, that the Supervisory Board be granted discharge for the supervision exercised and that the financial statements be adopted.Read further: A. Supervision