Management Report Appendices Governance
Consolidated Financial Company Financial
The total number of certificates is 297,961,365 with a nominal
value of EUR 25 each. The actual payment policy of Rabobank
pursuant to the Participation Rules in respect of the participation
issued by Rabobank (and via AK Foundation in respect of the
Rabobank Certificates) can be found on the Rabobank website.
The distribution paid per certificate in 2018 was EUR 1.625 (2017:
EUR 1.625). The Managing Board is entitled to decide not to pay
the distribution. Unpaid distributions will not be paid at a later
date. The amounts listed in the table below are based on the
nominal value of EUR 25 per Rabobank Certificate. Cash flows
arising from changes during the year in the Rabobank Certificates
are included in the consolidated statement of cash flows.
In January 2017 Rabobank issued Rabobank Certificates for a
nominal amount of EUR 1.5 billion. Rabobank issued 60 million
new RabobankCertificates;each ofthese newly issued Certificate
was priced at 108% of the nominal value of EUR 25.
Amounts in millions of euros
Changes during the year:
Issue of Rabobank Certificates
Change in Rabobank Certificates during the year
Annual Report 2018 - Consolidated Financial Statements