Declaration of dividend / Composition of Supervisory Board
Declaration of dividend
The Annual General Meeting of Shareholders of Beter Bed Holding N.V. that was
held on 28 April 2011 declared a final dividend of â‚¬ 0.83 per ordinary share of
nominally â‚¬ 0.02 each for the 2010 financial year.
An interim dividend of â‚¬ 0.47 was paid in November 2010. The total dividend for
2010 consequently amounts to â‚¬ 1.30, resulting in a pay-out ratio of 100%. A
dividend of â‚¬ 1.04 was paid for 2009 (pay-out ratio: 93%).
The final dividend will be paid entirely in cash.
The following schedule will apply to the payment of the dividend:
2 May 2011Â Â Â Â Â Â listing ex dividend
4 May 2011Â Â Â Â Â Â record date
16 May 2011 Â Â Â payment of dividend
The dividend policy of Beter Bed Holding N.V. is aimed at maximising shareholder
profit while maintaining a healthy capital position. The company's objective is
to, subject to certain conditions, pay out at least fifty percent of the net
profit to shareholders. This will be done in the form of payment of an interim
dividend following publication of the third-quarter figures and payment of a
final dividend following the adoption of the financial statements and following
the approval of the dividend proposal by the Annual General Meeting of
Shareholders. This method makes it possible to spread the payment of dividend
more evenly across the year.
The company's solvency must never fall below thirty percent on any given
publication date as a result of the payment of dividend. The net interest-
bearing debt/EBITDA ratio may never exceed two.
Composition of Supervisory Board
Ms E.A. de Groot-Theodoridis was appointed to the position of Supervisory
Director of Beter Bed Holding N.V. effective 1 May 2011 at the Annual General
Meeting of Shareholders of Beter Bed Holding N.V. on 28 April 2011.
Ms De Groot-Theodoridis (1965) earned a degree in Business Economics from the
University of Amsterdam. She then went on to complete the Registered Investment
Analyst course of study conducted by the Dutch Association of Investment
Professionals (VBA). From 1987 to 2008, she worked at ABN AMRO Bank where she
held a wide range of positions, serving the last five years as Executive Vice
President at Group Risk Management.
She has been established as an independent adviser and interim manager since
2009. In this role she fulfils projects within the financial sector. Her
commissions have included acting as interim CFO at Van Lanschot Bankiers for
Ms De Groot-Theodoridis has the Dutch nationality and does not hold any other
supervisory directorships. She does not hold any shares in the company.
The Supervisory Board nominated Ms De Groot-Theodoridis for the position of
Supervisory Director due to her personality, financial expertise and national
and international business experience. The Corporate Governance Code stipulates
that the Supervisory Board must include a member who is a financial expert and
the Supervisory Board is confident that this requirement has been fulfilled with
the appointment of Ms De Groot-Theodoridis.
At the Annual General Meeting of Shareholders on 28 April 2011 Mr M.J.N.M. van
Seggelen (Chairman) and Mr E.F. van Veen (Vice Chairman) have stepped down as
members of the Supervisory Board.
The Supervisory Board of Beter Bed Holding N.V. is consequently now comprised of
Mr D.R. Goeminne (Chairman), Mr A.J.L. Slippens (Vice Chairman), Mr J. Blokker,
Mr C.A.S.M. Renders and Ms E.A. de Groot-Theodoridis.
Beter Bed operates in the European bedroom furnishings market. Its activities
include retail trade through a total of 1,127 stores at the end of March 2011
that operate via the chains Beter Bed (active in the Netherlands), Matratzen
Concord (active in Germany, Austria, Switzerland, the Netherlands, Belgium and
Poland), El Gigante del ColchÃ³n (active in Spain), BeddenREUS, DormaÃ«l and
Slaapgenoten (all three active in the Netherlands) and MAV (active in Germany).
Beter Bed Holding is also active in the field of developing and wholesaling
branded products in the bedroom furnishings sector in the Netherlands, Belgium,
Germany and Spain via its subsidiary DBC International. Beter Bed Holding
achieved net revenue of â‚¬ 374.7 million in 2010. The company has been listed on
Euronext Amsterdam since December 1996. The Beter Bed Holding share is included
in the Amsterdam Small Cap Index.
For more information, please contact: Ton Anbeek, Chief Executive Officer
Tel. +31 (0)413 338819 / Fax +31 (0)413 338829 / Mob. +31 (0)6 53662838
E-mail:firstname.lastname@example.org / Website: www.beterbedholding.com
Please click on the linkÂ below for the Pdf version of this press release.
press release 28-4-2011 nabeurs.pdf:
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Beter Bed Holding NV via Thomson Reuters ONE