Our board of directors has adopted a dividend policy which provides that the payment and amount of any future dividends will depend on the assessment by our board of directors of factors such as our long-term growth and earnings trends as well as the need for sufficient liquidity and our financial position in general.
According to the dividend policy, the board of directors shall propose for approval at the annual general meeting of shareholders a dividend payment which shall amount to approximately one-third of our annual after-tax income, subject, in each case, to the factors discussed herein.
The size of future dividends will be determined according to Rezidor's long-term growth, as well as its financial position in general. The Board of Directors suggestion regarding dividend for 2007 amounts to EUR 0.10 (0.06) per share, corresponding to 32.6% (31.1) of profit after tax (32.5% as per March 12, 2008, after share buy-back in 2008).