F.9. Shareholder’s equity
| In CZK million, as at 31 December | 2014 | 2013 |
|---|---|---|
| Share capital | 4,000 | 4,000 |
| Reserve for unrealised gains and losses on investments | 4,037 | 1,800 |
| available-for-sale | — | — |
| Reserve for currency translation differences | (7) | (32) |
| Revaluation – land and buildings | — | 1 |
| Retained earnings brought forward | 11,882 | 11,525 |
| Net profit for the year | 3,636 | 3,727 |
| Total | 23,548 | 21,021 |
The following table provides details on reserves for unrealised gains and losses on investments available-for-sale.
| In CZK million, as at 31 December | 2014 | 2013 |
|---|---|---|
| Balance as at 1 January | 1,800 | 2,408 |
| Gross revaluation as at the beginning of the year | 2,216 | 2,967 |
| Tax on revaluation as at the beginning of the year | (416) | (559) |
| Reserve for currency translation differences | 1 | (1) |
| Revaluation gain/loss in equity – gross | 3,153 | (285) |
| Revaluation gain/loss on realisation in income statement – gross | (571) | (727) |
| Impairment losses – gross | 180 | 262 |
| Tax on revaluation | (526) | 143 |
| Gross revaluation as at the end of the year | 4,979 | 2,216 |
| Tax on revaluation as at the end of the year (Note F.26.2) | (942) | (416) |
| Balance as at 31 December | 4,037 | 1,800 |
F.9.1. Share capital
The following table provides details of ordinary shares.
| As at 31 December | 2014 | 2013 |
|---|---|---|
| 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
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.
At the Annual General Meeting on 30 April 2013, the sole shareholder approved the distribution of retained earnings in the form of dividend of CZK 85,000 per each share in the nominal value of CZK 100,000 amounting to CZK 3,400 million. Distribution concerns prior year profit of CZK 3,883 million reduced by the allocation to retained earnings of CZK 483 million.