Econocom - 2020 annual report

06 consolidated financial statements

notes to the consolidated financial statements

At 31 December 2020, the Group held 9,779,167 treasury shares ( i.e. , 4.4% of the total number of shares) through the parent company Econocom group SE. At the General Meeting of 19 May 2020, it was decided to cancel 24,500,000 treasury shares held by Econocom group and the

introduction of double voting rights for registered shares held for more than two years. The net acquisition cost of shares acquired and the proceeds from the sale of shares sold were respectively deducted from or added to equity.

DIVIDEND 15.3.4. The Board of Directors recommendsthat at the General Meeting shareholdersvote to refund the issue premium considered as paid-in capital, in an amount of €0.12 per share. The table belowalso shows the dividendper share paid bythe Group in respect ofprevious years.

Issue premium refund proposed in 2021

Issue premium refunded in 2019

Dividend paid in 2020

25.3

25.7

29.4

Total dividend in € millions (1)

Dividend per share in € (after the share split)

0.12

0.12

0.12

Calculated based on the total number of shares outstanding at 31 December of each year. (1)

As this refund of the issue premium is subject to the approval of the General Meeting, it is not recognised as a liability in the consolidated financial statements for the year ended31 December 2020. CURRENCY TRANSLATION 15.3.5. RESERVES Currency translation reserves correspond to the cumulativeeffect of the consolidationof

subsidiaries with functional currencies other than the euro. Foreign exchange gains and losses recorded in equity attributable to owners of the parent and non-controlling interests represented a decrease of €10.0 million versus a decreaseof €5.7million at 31 December 2019. At 31 December 2020, changes in this item result chiefly from fluctuations in the value of the Brazilian real, US dollar, pound sterling andPolish zloty.

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2020 annual report