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 exchanges 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 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 conversion clause, stipulating 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 available on the Volvo Group's web site: www.volvogroup.com
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.
The Board proposes a dividend of SEK 3.00 per share for the financial 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 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 Governance.” The website also offers the possibility to subscribe to information from Volvo.