Volvo 2000 Annual Report Download - page 16

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14
The Volvo share
Exchange listings of Volvo shares,
location and year
Stockholm 1935
London 1972
Frankfurt am Main,
Düsseldorf, Hamburg 1974
USA (NASDAQ) 1985
Brussels 1985
Tokyo 1986
Share capital Dec 31 2000
Registered number of shares1441,520,885
of which, Series A shares2138,604,945
of which, Series B shares3302,915,940
Par value, SEK 6
Share capital, SEK M 2,649
Number of shareholders 230,000
with shares held in own name 132,000
with shares held by trustees 98,000
1 Following the repurchase of own shares, the number
of outstanding shares were 397,368,797. On Jan 2,
2001, the repurchased shares were transferred to
Renault.
2 Series A shares carry one vote each
3 Series B shares carry one tenth vote each
The stock market in 2000
The year 2000 was characterized by declining share prices on stock markets worldwide. The
leading U.S. Index, the Dow Jones Industrial Average, decreased about 5%
and NASDAQ (Volvo listed since 1985), where high technology shares
dominate, closed at nearly 40% down. In Sweden, the OM Stockholm
Exchange’s General Index decreased by 12%. Uncertainties about the macro
economic development in the U.S., as well as the outlook for technology shares, affected the
General Index.
The Volvo share in 2000
Volvo’s market value amounted to SEK 69 billion and the Volvo Series B shares were down
29% at year-end 2000. The main reason for this development was the uncertainty regarding
the market situation in North America.
The OM Stockholm Exchange accounts for the largest percentage of turnover, with an aver-
age of 1.7 million Volvo shares traded each day. During 2000, Volvo was the eighth most ac-
tively traded share in terms of volume, with a 1.6% share of the total market volume. Related
to the market value, Volvo was number twelve with a 1.9% share of the total market value.
Apart from the OM Stockholm Exchange, most trading occurs in London and on NASDAQ.
Trading in Volvo shares in the U.S. is in the form of ADRs, American Depositary Receipts, rep-
resenting Series B shares. Turnover on NASDAQ decreased by 71% during the year, and the
number of outstanding ADRs at December 31, 2000 decreased by 8% to 9.4 million.
During 2000, the percentage of non-Swedish shareholders increased from 28% to 40% of
the share capital (from 16% to 32% of the voting rights). Shares held by Swedish owners were
distributed among institutions (55%), equities funds (18%) and private persons (27%). Of
Volvo’s 230,000 shareholders, the 50 largest accounted for approximately 84% of the voting
rights and 77% of the share capital.
Shareholders in focus
During 2000, AB Volvo repurchased own shares through an offer to the shareholders, which
included a premium of approximately 30%. For the fiscal year 2000, the Board of Directors
proposes that the shareholders at the Annual General Meeting approve a dividend of SEK 8.00
per share (7.00), an increase of 14%, or a total of approximately SEK 3,532 M, based on all
registered shares.
In 2000, SEK 14.9 billion was
transferred to Volvo’s shareholders