Consistent with its policy to sustainably grow its dividend, Philips will submit a proposal to the 2009 Annual General Meeting of Shareholders to declare a distribution in cash of EUR 0.70 per common share. Philips' shares will be traded ex-dividend as of March 30, 2009, subject to approval of the proposed dividend by the AGM.
Philips' present dividend is based on an annual pay-out ratio of 40 to 50% of continuing net income, which was revised in 2007 from an average annual pay-out ratio of 25 to 35%, and explained at the 2007 General Meeting of Shareholders. An overview of dividend paid in previous years can be found in our online Annual Report.
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