Annual and interim reports

11 Dividends

In the General Meeting of Shareholders in May 2019 the proposal for the appropriation of profit for the 2018 financial year was approved.

12 Remuneration for services rendered

Remuneration for managing funds and programs is assessed for market conformity. Related management expenses are included in operating expenses.

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13 Income tax

Income tax of EUR 8 million decreased compared to 2018 due to lower profit before tax whilst the average weighted annual rate of 13.5% increased (H1 2018: 12.5%).

14 Events after the end of the reporting period

In first half of August 2019 the Argentinian Peso has shown accelerated depreciation and caused tension in financial markets. For more details, reference is made to section 3.4 Concentration Risk.

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15 Related parties

FMO defines the Dutch State, subsidiaries, associated companies, the Management Board and Supervisory Board as related parties. This is in line with the Annual Report 2018.