Appropriation of net earnings
The Board of Management and the Supervisory Board propose that the available net earnings (Bilanzgewinn) of Allianz SE of EUR 2,312,520,269.84 for the 2012 fiscal year shall be appropriated as follows:
Distribution of a dividend of EUR 4.50 per no-par share entitled to a dividend: EUR 2,039,354,635.50
Unappropriated earnings carried forward: EUR 273,165,634.34
The proposal for appropriation of net earnings reflects the 2,760,081 treasury shares held directly and indirectly by the Company at the time of the publication of the convocation of the Annual General Meeting in the Federal Gazette. Such treasury shares are not entitled to the dividend pursuant to § 71b of the German Stock Corporation Act (AktG)1. Should there be any change in the number of shares entitled to the dividend by the date of the Annual General Meeting, the above proposal will be amended accordingly and presented for resolution on the appropriation of net earnings at the Annual General Meeting, with an unchanged dividend of EUR 4.50 on each share entitled to dividend.
1 The provisions of the German Stock Corporation Act (Aktiengesetz) apply to the Company pursuant to Art. 9 (1) lit. c) ii), Art. 10 of the Council Regulation (EC) No. 2157/2001 dated October 8, 2001 on the Statute for a European company (SE) (hereinafter SE-Regulation or SE-VO), insofar as nothing else is stipulated in special rules of the SE-Regulation.