Note 15: Group equity
In € |
Authorized share capital |
Subscribed share capital |
Priority shares (48 with nominal value of €400) |
19,200 |
19,200 |
Cumulative preferred shares (200 million with nominal value of €2) |
400,000,000 |
– |
Common shares (600 million with nominal value of €2) |
1,200,000,000 |
504,352,824 |
Total |
1,600,019,200 |
504,372,024 |
In € |
Authorized share capital |
Subscribed share capital |
Priority shares (48 with nominal value of €400) |
19,200 |
19,200 |
Cumulative preferred shares (200 million with nominal value of €2) |
400,000,000 |
– |
Common shares (600 million with nominal value of €2) |
1,200,000,000 |
505,241,170 |
Total |
1,600,019,200 |
505,260,370 |
Number of shares |
2016 |
2017 |
Outstanding at January 1 |
248,976,428 |
252,176,412 |
Issued in connection to performance-related shareplan and share-matching plan |
676,073 |
405,231 |
Stock dividend |
2,523,911 |
2,418,168 |
Share repurchase |
– |
(2,379,226) |
Balance at December 31 |
252,176,412 |
252,620,585 |
Number of shares |
2016 |
2017 |
Weighted average number of shares |
250,914,373 |
251,635,130 |
For further details on weighted average number of shares, refer to Note 8.
|
|
|
2016 |
|
2017 |
|
|
|
Equity stake |
|
Equity stake |
Group entity |
Partner |
% |
in € millions |
% |
in € millions |
Akzo Nobel Swire Paints (Shanghai) Ltd, Shanghai, China |
Swire Duro (Holdings) Ltd, China |
30.00 |
181 |
30.00 |
170 |
Akzo Nobel India Limited, Kolkata, India |
Privately held, India |
27.04 |
49 |
27.04 |
52 |
PT ICI Paints Indonesia, Jakarta, Indonesia |
PT DWI Satrya Utama, Indonesia |
45.00 |
31 |
45.00 |
28 |
Akzo Nobel Paints (Malaysia) Sdn. Bhd., Kuala Lumpur, Malaysia |
Privately held, Malaysia |
40.05 |
26 |
40.05 |
25 |
Akzo Nobel Swire Paints (Guanzhou) Limited, Guangzhou, China |
Swire Duro (Holdings) Limited, Industrial Development Co. Ltd of Guanzhou, China |
46.00 |
37 |
46.00 |
33 |
International Paint (Korea) Ltd, Busan, South-Korea |
Noroo Holdings, South Korea |
40.00 |
20 |
40.00 |
17 |
Akzo Nobel UAE Paints LLC, United Arab Emirates |
Kanoo Group, United Arab Emirates |
40.00 |
13 |
40.00 |
10 |
Akzo Nobel Kemipol A.S., Izmir, Turkey |
Privately held, Turkey |
49.00 |
18 |
49.00 |
17 |
International Paints Saudi Arabia, Saudi Arabia |
Yousuf Bin Ahmed Kanoo Co. Ltd, Saudi Arabia |
40.00 |
15 |
40.00 |
13 |
International Paints of Shanghai Co. Ltd, Shanghai, China |
Huayi Fine Chemical Co. Ltd, China; China National Shipbuilding Equipment & Materials Corp. |
49.00 |
12 |
49.00 |
5 |
Akzo Nobel Pakistan Limited, Karachi, Pakistan |
Privately held, Pakistan |
24.19 |
13 |
24.19 |
12 |
Akzo Nobel Oman SAOC, Muscat, Oman |
Omar Zawawi establishment LLC, Oman |
50.00 |
14 |
50.00 |
11 |
Others |
|
|
52 |
|
49 |
Total |
|
|
481 |
|
442 |
Subscribed share capital
For further details on subscribed share capital, refer to Note E in the Company financial statements.
Other components of Shareholders’ equity
Changes in fair value of derivatives comprise the effective portion of the cumulative net change in the fair value of cash flow hedging instruments related to hedged transactions that have not yet occurred.
Cumulative translation reserves comprise all foreign exchange differences arising from the translation of the financial statements of foreign operations, as well as from the translation of intercompany loans with a permanent nature and liabilities and derivatives that hedge the net investments in a foreign subsidiary.
Equity-settled transactions consist of the performance-related share plan and share-matching plan, whereby shares are granted to the Board of Management, Executive Committee and other executives. For details of the share-based compensation, refer to Note 5.
Non-controlling interests
None of the non-controlling interests are considered individually material to the group.
Dividend
Our dividend policy is to pay a stable to rising dividend. We will propose a 2017 final dividend of €1.94 per share, which would make a total 2017 dividend of €2.50 (2016: €1.65) per share, up 52 percent, excluding the €4.00 dividend per share paid in December 2017 as advanced proceeds related to the separation of the Specialty Chemicals business. There will be a stock dividend option with cash dividend as default.