Volvo 2014 Annual Report Download - page 91

The most traded share in Stockholm
Many of the world’s leading stock markets had a positive
development in 2014. The price of the Volvo B share ended
the year on the same level as the start of the year.
The Volvo share is listed on Nasdaq Stockholm, Swe-
den. 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 Nordic.
The Volvo share was unchanged
In general, developments on the leading stock exchanges were
positive during 2014. On Nasdaq Stockholm, the broad OMXSPI
index rose by 12% (23) during the year.
On Nasdaq Stockholm the share price for the Volvo A share
increased by 1%, and at year-end the price for the Volvo A share
was SEK 85.40 (84.50). The lowest price paid was SEK 72.50 on
October 16, and the highest price paid was SEK 106.50 on
April 25.
The share price for the Volvo B share was more or less
unchanged at SEK 84.70 (84.45) at year-end. The lowest price
paid was SEK 71.00 on October 16, and the highest price paid
was SEK 105.70 on April 25.
In 2014, a total of 2.1 billion (1.9) Volvo shares at a value of SEK
192 billion (179) were traded on Nasdaq Stockholm, corresponding
to a daily average of 8.7 million shares (7.7). The Volvo share was
the most traded share on Nasdaq Stockholm in 2014. At year-
end, Volvo’s market capitalization totalled SEK 181 billion (180).
According to Fidessa, the trading on Nasdaq Stockholm
accounted for 48% (48) of the turnover in the Volvo B share while
the remainder 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 conver-
sion clause, stipulating that series A shares may be converted into
series B shares, after a request sent to the Board.
During 2014 a total of 6,183,853 A shares were converted to
B shares, representing 1.2% of the outstanding A shares at the
end of 2013.
Further information on the procedure is available on the Volvo
Group’s web site: www.volvogroup.com
Ownership changes
During the year both Industrivärden and Cevian Capital increased
their holdings in AB Volvo. At year end, Industrivärden was the
largest owner followed by Cevian Capital, Norges Bank Invest-
ment 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 2014, which would mean that a total of SEK
6,090 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 professional investors, private shareholders and stock
market analysts, the relationship between Volvo and the stock mar-
ket is maintained through such events as press and telephone con-
ferences in conjunction with the publication of interim reports,
meetings with retail shareholders’ associations, 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
trading in Volvo shares and statistics for truck deliveries. 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
10
5.36
2.50
11
8.75
3.00
12
5.61
3.00
13
1.76
3.00
14
1.03
3.001
Dow Jones Sustainability Index
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 work
with environmental issues.
In the ranking, the world’s 3,000 largest companies
are assessed on the basis of their strategies, imple-
mentation and results in areas such as business ethics, environmental consideration and social criteria
with the focus on their ability to generate long-term value. The Volvo Group is among the top 300 compa-
nies included on the list. There are companies across all industries with a common denominator; they out-
perform their peers in numerous sustainability metrics.
The Volvo Group has also been acknowledged for its climate strategy, an important part of the Group’s
vision of becoming world leader of sustainable transport solutions. Other highlighted areas are the clear
direction and focus for guiding its corporate citizenship programs and the Volvo Group’s dedication to
innovation for both products and processes.
Earnings and dividend per share, SEK
BOARD OF DIRECTORS’ REPORT 2014
GROUP PERFORMANCE
THE SHARE
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