CONSOLIDATED FINANCIAL STATEMENTS
31. DIVIDENDS
At the General Meeting of 29th April 2016, the company decided to pay a gross dividend of
0,10 euro per share (0.055 euros in 2015), representing a total value of 1,800,000 euros for
outstanding shares (990,000 euros in 2015), settled on May 27th, 2016.
In the year 2016, 3,798,270 euros of dividends were also paid to a minority shareholder of the
subsidiary Ibersande and 538,963 euros to a minority shareholder of the subsidiary Dehesa.
32. CONTINGENT ASSETS AND LIABILITIES
The group has contingent liabilities regarding bank and other guarantees and other
contingencies related with its business operations (as licensing, advertising fees, food
hygiene and safety and employees, and the rate of success of these processes is his-
torically high in Ibersol). No significant liabilities are expected to arise from the said
contingent liabilities.
On December 31st 2016, responsibilities not recorded by the companies and included
in the consolidation consist mainly of bank guarantees given on their behalf, as shown
below:
Dec. 2016
Dec. 2015
Bank guarantees
2,188,430
1,875,027
On type of coverage, bank guarantees are as follows:
Leases
and rents
Fiscal and legal
proceedings
Other
legal claims
Other
supply contracts
2,042,520
105,239
8,731
31,940
The relevant amount comes from the guarantees required by the owners of spaces concession
(Ana Airports) or leased (shopping centers).
In addition, Ibersol SGPS provided guarantees to the subsidiaries in the amount of 2.750.000
USD.
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