Chapters
Annual Report 2020

20. Retained Earnings

Accounting Policy
Dividends are recognized in equity in the reporting period in which they are declared.

The movements in Retained Earnings can be specified as follows:

in thousands of EUR

2020

2019

at 1 January

1,283,340

1,188,943

Result for the year

- 66,893

178,483

Share-based payments

- 256

43

Dividends paid

-

- 83,743

Acquisition of non-controlling interest

-

- 386

At 31 December

1,216,191

1,283,340

GrandVision will not propose at this time a dividend for the fiscal year 2020.

Contingent upon the Company's financial position not being materially worsened due to the impact of the second wave of COVID-19 in 1Q 2021, GrandVision confirms its intention to propose a dividend for the amount of €88,779 (€0.35 per share) for the fiscal year 2019 at the Annual General Meeting on 23 April 2021.

In 2019 , a total dividend of EUR 0.33 per share was paid out for a total of €83,743 for the year 2018.