Volvo 2015 Annual Report Download - page 106

The Volvo share is listed on the stock exchange
Nasdaq 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 Nordic.
The Volvo share price declined
In general, the leading stock exchanges fell back during 2015.
However, on Nasdaq Stockholm, the broad OMXSPI index rose by
7% (12) during the year.
On Nasdaq 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 80.95 (85.40). The lowest price paid was SEK 76.35 on
September 29, and the highest price paid was SEK 120.50 on
April 27.
The share price for the Volvo B share decreased by 7% and at
year-end the price was SEK 79.10 (84.70). The lowest price paid
was SEK 75.90 on December 14 and the highest price paid was
SEK 120.50 on April 27.
In 2015, a total of 2.1 billion (2.1) Volvo shares at a value of SEK
203 billion (192) were traded on Nasdaq Stockholm, correspond-
ing to a daily average of 8.4 million shares (8.7). The Volvo share
was the fourth most traded share on Nasdaq Stockholm in 2015.
At year-end, Volvo’s market capitalization totalled SEK 169 billion
(181).
According to Fidessa, the trading on Nasdaq Stockholm
accounted for 49% (48) of the turnover in the Volvo B share,
Bats Chi-X Europe accounted for 36%, Boat for 6% and LSE
Group for 5%.
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 2015 a total of 7,633,140 A shares were converted to B
shares, representing 1.5% of the outstanding A shares at the end
of 2014.
Further information on the procedure is available on the Volvo
Group’s web site: www.volvogroup.com
Ownership changes
During the year Industrivärden decreased its holding of B shares
and increased the holding of A shares. Cevian Capital increased
its holding of both A and B shares. 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
financial year of 2015, which would mean that a total of SEK
6.093 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
market is maintained through such events as press and telephone
conferences 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
financial 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 Gov-
ernance.” The website also offers the possibility to subscribe to
information from Volvo.
ONE OF THE MOST TRADED
SHARES IN STOCKHOLM
Many of the world’s leading stock markets had a volatile development in 2015 and ended the year lower
than they started. The price of the Volvo B share decreased by 7% during the year.
GROUP PERFORMANCE BOARD OF DIRECTORS’ REPORT 2015
THE SHARE
Diluted earnings
per share Dividend
per share
1 Proposed by the Board of Directors.
11
8.75
3.00
12
5.61
3.00
13
1.76
3.00
14
1.03
3.00
15
7.41
3.001
EARNINGS AND DIVIDEND PER SHARE, SEK
104