Boskalis Annual Report 2018

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Repurchase of shares On 3 July 2017 the Group initiated a share buyback program, which was completed in March 2018. A total number of 600,441 shares, for a total amount of EUR 16.5 million (including EUR 1.3 million dividend tax), were repurchased in 2018 (2017: 2,674,601 shares for an amount of EUR 81.2 million, including EUR 2.9 million dividend tax). A total of 3,275,042 shares, representing an amount of EUR 97.7 million (including EUR 4.2 million of dividend tax), were repurchased in 2017 and 2018. Shares per balance sheet date The issued capital as at 31 December 2018 consists of 135,378,338 ordinary shares (2017: 133,351,894 shares) with a par value of EUR 0.01 each (2017: EUR 0.01) and consequently amounts to EUR 1.4 million (2017: EUR 1.3 million). 23.2 SHARE PREMIUM RESERVE The share premium reserve consists of additional paid-in capital exceeding the par value of the outstanding shares. The share premium is distributable free of tax. 23.3 RETAINED EARNINGS Retained earnings consist of additions and distributions based on profit appropriations, effects of changes in accounting principles, losses and movements in the legal reserve. The balance is at the disposal of shareholders. Retained earnings also comprise the unappropriated profit or loss for the current year. A proposal for profit or loss appropriation is disclosed in note 6 of the Company financial statements and is included in Other information.

23.4 DIVIDEND Royal Boskalis Westminster N.V. distributed the following dividend to holders of ordinary shares:

2018

2017

Dividend prior year EUR 1.00 respectively EUR 1.00 per ordinary share

130,077 130,077 93,788 36,289 130,077

130,077 130,077 100,544 29,533 130,077

Total dividend distributed

Stock dividend Cash dividend

Total distributed dividend

In 2018 28% of the shareholders opted for a distribution of dividend in cash. An amount of EUR 36.3 million was distributed and the accompanying dividend tax was paid in July 2018.

23.5 EARNINGS PER SHARE Earnings per share are determined based on the calculation below.

2018

2017 REVISED

Earnings per share Net Group profit/loss (-) attributable to shareholders in thousands of EUR

- 435,850

150,469

Weighted average number of shares

132,492,433

131,097,477

Earnings per share

EUR -3.29

EUR 1.15

Earnings per share before impairment charges Net Group profit/loss (-) attributable to shareholders in thousands of EUR Extraordinary charges, including within joint ventures in thousands of EUR, after tax Net Group profit/loss (-) attributable to shareholders in thousands of EUR excluding extraordinary charges, including within joint ventures

- 435,850 518,659

82,809

Weighted average number of shares

132,492,433

Earnings per share, excluding extraordinary charges, including within joint ventures

EUR 0.63

EUR 1.15

Diluted earnings per share Weighted average number of shares including dilution effects