Volvo 2013 Annual Report Download - page 88

THE SHARE
The most traded share
in Stockholm
Many of the world’s leading stock markets had a positive development
in 2013. The Volvo share, however, had a negative development.
The Volvo share is listed on NASDAQ OMX in
Stockholm, Sweden. One A share carries one
vote at Annual General Meetings and one B share
carries one tenth of a vote. Dividends are the
same for both classes of shares. The A share is
traded under the ticker code Volvo A and the B
share under Volvo B.
The Volvo share is included in a large number
of indexes that are compiled by Dow Jones,
FTSE, S&P and NASDAQ OMX Nordic.
The Volvo share decreased in value
In general, developments on the leading stock ex -
changes were positive during 2013. On NASDAQ
OMX Stockholm, the broad OMXSPI index rose
by 23% (12) during the year.
On NASDAQ OMX Stockholm the share
price for the Volvo A share decreased by 5%,
and at year-end the price for the Volvo A share
was SEK 84.50 (89.40). The lowest price paid
was SEK 80.50 on December 16, and the highest
price paid was SEK 103.80 on September 23.
The share price for the Volvo B share
decreased by 5% and was SEK 84.45 (88.80)
at year-end. The lowest price paid was SEK
80.40 on December 16, and the highest price
paid was SEK 104.00 on September 23.
In 2013, a total of 1.9 billion (2.1) Volvo shares
at a value of SEK 179 billion (188) were traded
on NASDAQ OMX Stockholm, corresponding to
a daily average of 7.7 million shares (8.5). The
Volvo share was the most traded share on NASDAQ
OMX Stockholm in 2013. At year-end, Volvo’s
market capitalization totalled SEK 180 billion (189).
According to Fidessa, the trading on NASDAQ
OMX Stockholm accounted for 48% (46) of the
turnover in the Volvo B share while the remain-
der took place at exchanges such as BATS, Chi-X,
Burgundy and Turquoise.
Share conversion option
In accordance with a resolution on the AGM on
April 6, 2011, the Articles of Association have been
amended to include a conversion clause, stipulat-
ing that series A shares may be converted into
series B shares, after a request sent to the Board.
During the year a total of 27,245,422 A shares
were converted to B shares, representing 5.0%
of the outstanding A shares at the end of 2012.
Further information on the procedure is
avail able on the Volvo Group’s web site:
www.volvogroup.com
Ownership changes
During the year both Industrivärden and Cevian
Capital as well as Norges Bank increased their
holdings in AB Volvo. At year end, Industrivärden
was the largest owner followed by Cevian
Capital, Norges Bank Investment Management,
SHB and Alecta, when measured as share of
voting rights.
Dividend
The Board proposes a dividend of SEK 3.00 per
share for the fi nancial year of 2013, which would
mean that a total of SEK 6,084 M would be
transferred to AB Volvo’s shareholders. For the
preceding year a dividend of SEK 3.00 per share
was paid out.
Communication with shareholders
Dialogue with the shareholders is important for
Volvo. In addition to the Annual General Meeting
and a number of larger activities aimed at pro-
fessional investors, private shareholders and
stock market analysts, the relationship between
Volvo and the stock market is maintained through
such events as press and telephone conferences
in conjunction with the publication of interim
reports, meetings with retail shareholders’ asso-
ciations, investor meetings and visits, as well as
road shows in Europe, North America and Asia.
On the website www.volvogroup.com it is
possible to access fi nancial reports, search for
information concerning the share, insider trad-
ing in Volvo shares and statistics for truck deliv-
eries. It is also possible to access information
concerning the Group’s governance, including
information about the Annual General Meeting,
the Board of Directors, Group Management
and other areas that are regulated in the
“Swedish Code of Corporate Governance.” The
website also offers the possibility to subscribe
to information from Volvo.
Diluted earnings
per share
Dividend per share
1 Proposed by the
Board of Directors
09
(7.26)
0.00
10
5.36
2.50
11
8.75
3.00
12
5.61
3.00
13
1.76
3.001
BOARD OF DIRECTORS’ REPORT 2013 GROUP PERFORMANCE
The Volvo Group once again qualifi es
for the Dow Jones Sustainability World
Index (DJSI). The Volvo Group receives
a particularly good rating for its imple-
mentation of the environmental policy
and management systems. The Volvo
Group was also acknowledged for its
great improvement in how the organi-
zation works with anti-competitive business practices as well as its clear direction and focus
for guiding its corporate citizenship and philanthropy programs. Other highlighted areas were
the Volvo Group’s dedication to innovation in both products and processes.
In this ranking, the world’s 3,000 largest companies are assessed on the basis of their
strategies and results in spheres such as business ethics, environmental consideration and
social criteria, with the focus on their ability to generate long-term value. The top 300 compa-
nies, a category that encompasses the Volvo Group, are included in the DJSI World.
Earnings and dividend per share, SEK
84