15 Equity attributable to shareholders of Bouwinvest Dutch Institutional Retail Fund N.V.
For 2023, before appropriation of profit
16 Non-current lease liabilities
The average discount rate used for discounting the lease payments is 3%.
17 Current trade and other payables
The other payables relates to other provisions (€ 0.3 million) and promotional contributions to be paid out (€ 0.2 million).
18 Earnings per share
Basic earnings per share are calculated by dividing the net profit attributable to shareholders by the weighted average number of ordinary shares outstanding during the year.
19 Dividends per share
In 2023, the Fund paid out a dividend of € 120.59 per share (2022: € 106.99) which amounts to a total of € 44.7 million (2022: € 39.6 million).
20 Contingent liabilities and assets
As at 31 December 2023, the Fund’s total future investment liabilities amounted to € 13 million (2022: € 14.7 million) related to the acquisition of shopping centre Groote Wielen.
21 Related parties
The Retail Fund’s subsidiaries and members of the Supervisory Board and the Management Board of Bouwinvest and the other entities under management by Bouwinvest, qualify as related parties of the Retail Fund.
22 Management fee
Bouwinvest is the manager and the Statutory Director of the Fund. The management fee paid for the year 2023 amounted to € 4.8 million (2022: € 4.9 million).
23 Audit fees
The table below shows the fees charged over the year 2023 by Deloitte Accountants B.V. and the Deloitte Network in respect of activities for the Retail Fund.
24 Subsequent events
No subsequent events occured after the end of the reporting period.