Volvo 2005 Annual Report Download - page 33

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Volvo Group 2005 29
The largest shareholders in AB
Volvo, December 31, 20051
Share capital, %2
Renault SA 20.7
AMF Pension 4.1
Alecta 3.0
Robur fonder (savings funds) 2.7
SEB Fonder / Trygg Försäkring 2.7
1 Following the repurchase of its own shares, AB
Volvo held 5.0% of the Company´s shares on Dec.
31, 2005.
2 Based on all registered shares.
Credit rating at December 31, 2005
Short term Long term
Moody’s P-2 stable A3 stable
Standard & Poor A2 stable Not rated
Share capital, December 31, 2005
Registered number of shares1 425,684,044
of which, Series A shares2 135,520,326
of which, series B shares3 290,163,718
Quota value, SEK 6
Share capital, SEK M 2,554
Number of shareholders 195,442
Private persons 185,637
Legal entities 9,805
1 Following the repurchase of the Group’s own
shares, the number of outstanding shares was
404,463,509.
2 Series A shares carry one vote each.
3 Series B shares carry one tenth of a vote each.
Dividend policy
The objective is that the effective return to the
shareholders, the dividend combined with the
change in the share price, should exceed the
average for the industry.
Dividend
For fiscal year 2005, the Board of Directors
proposes that the shareholders at the Annual
General Meeting approve a cash dividend of
SEK 16.75 per share, a total of approximately
SEK 6,775 M. This corresponds to a direct
return of 4.5% calculated at the year-end
2005/2006 rate of SEK 374.50 for the
Volvo B share.
Long-term credit rating
In October, AB Volvo signed an agreement
with Moody’s Investor Services for long-term
credit rating services, since Moody’s had, for
several years, evaluated the credit worthiness
of the Volvo Group without having a contract.
The long-term A3 credit rating provides access
to additional sources of financing and improved
access to the financial market.
A3 is among the highest credit ratings in
the transport and vehicle industry and one of
the highest among Nordic industrial compa-
nies.
More details on the Volvo share
can be found on page 150.
0
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Volvo B AFSX MSCI-Europe – Machinery Index
Source: Stockholmsbörsen
Price trend, Volvo Series B shares, SEK