50. Dividend proposal

The dividends that can be distributed to shareholders are defined in the German Stock Corporation Act (AktG) as the net balance sheet profit as determined under German commercial law and disclosed in the annual financial statements of Nordzucker AG. The annual financial statements for the 2013/2014 reporting period show a net distributable profit of EUR 86,361,886.40. The Executive Board proposes to use this net distributable profit to pay a dividend for the 2013/2014 reporting period (EUR 1.30 per share with dividend entitlement).