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MEDIASET ESPAÑA COMUNICACIÓN, S.A. AND SUBSIDIARIES
3. PROPOSED DISTRIBUTION OF THE PROFIT OF THE PARENT
The distribution of the Parent’s net profit for 2011 that its Board of Directors will propose for approval by the
shareholders at the Annual General Meeting and the distribution of the Parent’s net profit in 2011 approved by the
Annual General Meeting are as follows:
BASE FOR DISTRIBUTION
2011
2010
Profit for the year
137,264
113,934
Distribution:
Legal reserve
-
16,022
Other reserves
67,605
-
Goodwill reserve
14,399
-
Dividends
55,260
97,912
Total
137,264
113,934
At its meeting of 22 February 2012, the Parent’s Board of Directors resolved to submit for approval by shareholders
in ordinary general meeting a proposal to pay out EUR 55,260 thousand of dividends with a charge to 2011 profit.The
total dividend would be EUR 0.14 per share.
At its meeting of 23 February 2011, the Parent’s Board of Directors resolved to submit for approval by shareholders in
ordinary general meeting a proposal to distribute an extraordinary dividend amounting to EUR 42,248 thousand with
a charge to the Parent’s unrestricted reserves.The total dividend was EUR 0.35 per share.
4. ACCOUNTING POLICIES
The principal accounting policies used in preparing the Group’s consolidated financial statements were as follows:
4.1. Basis of consolidation
The Group’s consolidated financial statements include the financial statements of all the companies over which the Group
has control. Control is the power to govern a company’s financial and operating policies in order to obtain benefits from
its activities. All intra-Group balances and transactions were eliminated on consolidation. Associates, companies over
which the Group exercises significant influence but not control, were accounted for using the equity method.
However, given that the accounting principles and measurement bases applied when preparing the Group’s consolidated
financial statements for 2011 and 2010 (EU-IFRS) vary from those used by the companies composing the Group (local
standards), the necessary adjustments and reclassifications have been made on consolidation to standardise the most
significant measurement and recognition principles between the companies and to adapt these to EU-adopted IFRS.
All items of proper ty, plant and equipment and intangible assets are linked to production and the generation of revenue
from business activities.