13 – Equity

Authorized capital

At the Annual Shareholders’ Meeting of May 2, 2014, shareholders authorized the Board of Executive Directors, with the approval of the Supervisory Board, to increase the subscribed capital by issuing new registered shares up to a total of €500 million against cash or contributions in kind through May 1, 2019. 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.

Retained earnings

Transfers from other retained earnings increased legal reserves by €54 million in the first three quarters of 2015.

Due to the disposal of the gas trading business, the pharmaceutical ingredient business and Solvin GmbH & Co. KG, an amount of €73 million resulting from the remeasurement of defined benefit plans was transferred from other comprehensive income into retained earnings.

Payment of dividends

In accordance with the resolution of the Annual Shareholders’ Meeting on April 30, 2015, BASF SE paid a dividend of €2.80 per share from the retained profit of the 2014 fiscal year. With 918,478,694 shares entitled to dividends, this amounts to a total dividend payout of €2,571,740,343.20.