19 – Capital, reserves and retained earnings

Authorized capital

At the Annual Shareholders’ Meeting of April 30, 2009, shareholders authorized the Board of Executive Directors, with the approval of the Supervisory Board, to increase the subscribed capital by issuing new shares in an amount of up to €500 million against cash through April 30, 2014. The Board of Executive Directors is empowered, following the approval of the Supervisory Board, to decide on the exclusion of shareholders’ subscription rights for these new shares in certain predefined cases covered by the enabling resolution. Until now, this option has not been exercised and no new shares have been issued.

Reserves and retained earnings

Capital surplus includes share premiums from the issuance of shares, the consideration for warrants and negative goodwill from the capital consolidation resulting from acquisitions of subsidiaries in exchange for the issue of BASF SE shares at par value.

  (XLS:) Download (xls, 22 kB)

Million €

2013

2012

Legal reserves

488

431

Other retained earnings

25,682

23,277

Reserves and retained earnings

26,170

23,708

Transfers between the line item legal reserves and the line item other retained earnings increased legal reserves by €57 million in 2013 and by €48 million in 2012.

The acquisition of shares in companies which BASF already controls or includes as a joint arrangement in the Consolidated Financial Statements is treated as a transaction between shareholders, as long as this does not lead to a change in the consolidation method. There were no transactions of this type in 2013, as in the previous year.

Payment of dividends

In accordance with the resolution of the Annual Shareholders’ Meeting on April 26, 2013, BASF SE paid a dividend of €2.60 per share from the retained profit of the 2012 fiscal year. With 918,478,694 shares entitled to dividends, this amounts to a total dividend payout of €2,388,044,604.40.