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Our aim is to sustainably grow our dividend over time. Philips’ present dividend policy is based on an annual pay-out ratio
of 40 to 50% of continuing net income.
Continuing net income, or net income excluding material non-recurring items and discontinued operations, is the base figure
used to calculate the dividend payout for the year. For 2008, the key exclusions used to arrive at continuing net income include
the gains on the sale of shares in LG Display and TSMC, non-cash value decreases in our remaining financial stakes, restructuring
and the impact of settlement charges.
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