F.9. Shareholder’s equity
| In CZK million, as at 31 December | 2015 | 2014 |
|---|---|---|
| Share capital | 4,000 | 4,000 |
| Reserve for unrealised gains and losses on investments available-for-sale | 5,071 | 4,037 |
| Reserve for currency translation differences | 3 | (7) |
| Statutory reserve fund | 800 | 800 |
| Retained earnings brought forward | 11,469 | 11,082 |
| Net profit for the year | 4,092 | 3,636 |
| Total | 25,435 | 23,548 |
The following table provides details on reserves for unrealised gains and losses on investments available-for-sale.
| In CZK million, for the year ended 31 December | 2015 | 2014 |
|---|---|---|
| Balance as at 1 January | 4,037 | 1,800 |
| Gross revaluation as at the beginning of the year | 4,979 | 2,216 |
| Tax on revaluation as at the beginning of the year | (942) | (416) |
| Currency translation differences | – | 1 |
| Revaluation gain/loss in equity – gross | 1,404 | 3,153 |
| Revaluation gain/loss on realisation in income statement – gross | (496) | (571) |
| Impairment losses – gross | 369 | 180 |
| Tax on revaluation | (243) | (526) |
| Gross revaluation as at the end of the year | 6,256 | 4,979 |
| Tax on revaluation as at the end of the year (Note F.25.2) | (1,185) | (942) |
| Balance as at 31 December | 5,071 | 4,037 |
F.9.1. Share capital
The following table provides details of ordinary shares.
| As at 31 December | 2015 | 2014 |
|---|---|---|
| Number of shares authorised, issued and fully paid | 40,000 | 40,000 |
| Par value per share (CZK) | 100,000 | 100,000 |
F.9.2. Dividends
The sole shareholder approved on 30 April 2015 the distribution of a prior year profit of the Company in the amount of CZK 3,636 million. CZK 364 million was transferred to retained earnings and CZK 3,272 million was paid in the form of dividend of CZK 81,800 per each share in the nominal value of CZK 100,000.
At the Annual General Meeting on 30 April 2014, the sole shareholder approved the distribution of retained earnings in the form of dividend of CZK 83,600 per each share in the nominal value of CZK 100,000 amounting to CZK 3,344 million. Distribution concerns prior year profit of CZK 3,727 million reduced by the allocation to retained earnings of CZK 383 million.