Return on investment
Veidekke aims to give its shareholders a high and stable return on their investment. From its 1986 listing until the end of 2011, Veidekke has delivered the best average annual return of any company listed on the Oslo Stock Exchange. Through the combination of an increasing share price and dividend payouts, Veidekke’s shareholders have had an average annual return of
15.5 percent. During the same period, the Oslo Stock Exchange’s average
annual return was 9.1 percent. Veidekke’s return in 2011 was -22.6 percent, compared to -12.5 percent for the Oslo Stock Exchange.
In 2011, 23.0 million Veidekke shares were traded on the Oslo Stock Exchange with a turnover rate of 17.2 percent. In comparison, in 2010, 21.8 million shares were traded corresponding to a turnover rate of 16.3
percent. There were a total 25 028 trades of Veidekke shares during the
year, compared with 22 204 the year before.
Dividend
Veidekke’s dividend policy stipulates a payout amounting to at least 50 percent of profit for the year (pay-out ratio).
For the 2011 financial year, the Board of Directors proposes a dividend
distribution of NOK 2.75 per share, which is 0.25 NOK or 10 percent more that the previous year. This indicates a payout ratio of 57 percent, as against 96 percent the previous year. Shareholders will thus
receive a direct return of 7.1 percent based on the share price at the end of the year.
The dividend will be paid on 24 May 2012 to all shareholders who are registered as owners on the date of the Annual General Meeting, 10 May 2012.
Ownership structure
At the turn of the year, Veidekke had 7 163 shareholders, compared with 7 059 at the beginning of the year. Veidekke’s largest owners are OBOS Forretningsbygg (28.0 percent), IF Skadeförsäkring AB (9.1 percent) and Folketrygdfondet (7.6 percent). A total of 3 100 employees held 21.0 percent of the shares in the company in 2011. In comparison, a total of 3 035 employees had an ownership share of 19.4 percent in 2010. During the year, the percentage of foreign investors decreased by 1.9 percent from 22.8 percent to 20.0 percent.
A list of Veidekke’s 20 largest shareholders is published on Veidekke’s web site and updated once a week. (Shareholder structure). Nordea is Veidekke’s account operator.
Veidekke’s share capital at 31 December 2011 was 66 852 471 NOK divided into 133 704 942 shares of 0.50 NOK each. Veidekke has always had one share class and each share carries one vote.
