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Shares

Additional information

Cargotec’s class B share is listed on the Nasdaq Helsinki stock exchange. The number of B shares is 55,182,079 and the number of unlisted A shares is 9,526,089.

Please find more information on the share price development and other relevant topics below.

Share

Cargotec's class B share is quoted on the Nasdaq Helsinki Large Cap list as of 1 June 2005 under trading code CGCBV. The shares are registered in the book-entry securities system maintained by Euroclear Finland Ltd., which also maintains the official shareholder register of Cargotec.

Share related key figures
​2016​​2015​20142013​​​2012
Earnings per share ​ ​ ​ ​ ​
    Basic, EUR 1.95​ 2.21​ 1.11​ 0.89 1.45​
    ​Diluted, EUR ​1.94 ​2.21 ​1.11 0.89 1.45​
​Equity per share, EUR 21.65​​ ​20.73 ​18.76 19.18​​ 20,02
Dividend per B share, EUR​ 0.95​ ​0.80 0.55​ 0.42​ 0.72​
Dividend per A share​, EUR 0.94​ ​0.79 0.54 0.41​​ 0.71
​Dividend per earnings, B share, % 48.7​​ ​36.1 ​49.6 47.1​​ 49.7
Dividend per earnings, A share, %​ 48.3​ ​35.7 ​48.7 46.0​ 49.1​
​Effective dividend yield, B share, % 2.2​​ ​2.3 ​2.2 1.6​​ 3.6
Price per earnings, B share, EUR​ 22.0​ ​15.6 ​23.0 30.4​​ 13.8​
Average price, B share, EUR 34.31​​ ​31.58 ​27.65 24.49​ 22.70​
​Highest price, B share, EUR 43.35​ ​37.37 ​34.67 29.69​​ 33.62​
​Lowest price, B share, EUR 24.30​ ​23.70 ​20.57 19.35​​ 15.65​​
​Closing price, end of period, B share, EUR 42.89​ ​34.50 ​25.55 27.09​​ 19.95​
Market capitalisation, B share, 31 Dec, MEUR​ * ​2,355​ ​1,900 ​1,403 1,484 1,093​
​Trading volume, number of B shares, '000 ** 42,653​​ 58,340​ ​53,641 41,105​ 64,275​
​Trading volume, number of B shares, % ** 73.9​​ 104.5​ ​96.0 74.0​ 118.8​
Outstanding shares, number of B shares, '000 ​54,917​ ​55,072 ​54,911 54,789​​ 51,819​

* Excluding own shares
** On Nasdaq Helsinki Ltd 

Share capital and number of shares

Cargotec's share capital, fully paid and entered in the trade register, is EUR 64,304,880, comprising a total of 55,182,079 listed class B shares and a total of 9,526,089 unlisted class A shares.

Each class A share has one (1) vote and each complete lot of ten class B shares has one vote in the Shareholders’ Meeting, with the proviso that each shareholder is entitled to at least one vote.

Changes in share capital and number of shares

​A shares​B shares​Share capital, EUR​
31 Dec 2016 ​9,526,089 ​55,182,079 ​64,304,880
​Share subscriptions with stock options 2010B as of 13 May 2016 ​ 17,096​ ​
​31 Dec 2015 9,526,089​ 55,164,983​ 64,304,880​​
​Share subscriptions with stock options 2010A and 2010B in 2015 ​ ​253,774 ​
​31 Dec 2014 ​9,526,089 ​54,911,209 ​64,304,880
​​Share subscriptions with stock options 2010A and 2010B in 2014 ​ 122,704 ​
​31 Dec 2013​ 9,526,089​​ 54,788,505​ ​64,304,880​
Share subscription with stock options 2010A in 2013 ​ 9,714​ ​
​31 Dec 2012 9,526,089​ 54,778,791​ 64,304,880​
​31 Dec 2011 ​9,526,089 ​54,778,791 ​64,304,880
31 Dec 2010​ ​9,526,089 ​54,778,791 ​64,304,880
31 Dec 2009​ ​9,526,089 ​54,778,791 ​64,304,880
​Share subsciptions with option rights in 2009 ​ ​600 ​
31 Dec 2008​ ​9,526,089 ​54,778,191 ​64,304,280
​Share subscriptions with option rights in 2008 ​ 83,907​ ​
31 Dec 2007​ ​9,526,089 ​54,694,284 ​64,220,373
​Share subscriptions with option rights in 2007 ​ 173,913​ ​
31 Dec 2006​ ​9,526,089 ​54,520,371 ​64,046,460
​Share subscriptions with option rights in 2006 ​ ​125,505 ​
​31 Dec 2005 ​9,526,089 ​54,394,866 ​63,920,955
​Share subscriptions with option rights in 2005 ​ ​166,200 ​
1 Jun 2005​ ​9,526,089 ​54,228,666 ​63,754,755
Dividend and dividend policy

​Dividend policy

Cargotec Corporation’s Board of Directors has confirmed the company’s dividend policy.

Cargotec’s target for the dividend:

Increasing dividend in the range of 30-50% of EPS, dividend to be paid twice a year*

*Proposal to be made for the Annual General Meeting 2018

 

Dividend distribution

In dividend distribution, class B shares earn a higher dividend than class A shares. The difference between dividends paid on the two classes of shares is a minimum of one (1) cent and a maximum of two and a half (2.5) cents.

 

Dividend 2016

The Annual General Meeting on 21 March 2017 approved a dividend of 
EUR 0.94 be paid for each of class A shares and a dividend of EUR 0.95 be paid for each of class B shares outstanding. 

The dividend was paid to shareholders who on the record date for dividend distribution, 23 March 2017, are registered as shareholders in the company's shareholder register. The dividend payment date was 30 March 2017.

 

​2016​​2015​​​20142013​2012​
Dividend, A share​, EUR ​0.94 0.79​​ 0.54​ 0.41​​ 0.71​
​Dividend, B share, EUR 0.95 0.80​ ​0.55 0.42​​ 0.72​
​Earnings per share, EUR ​1.95​ 2.21​​ ​1.11 0.89​​ 1.45​
​Dividend/EPS, % (B share) ​48.7​ 36.1​ ​49.6 47.1 49.7​
Share buybacks
Cargotec currently holds 208,390 own class B shares.  Daily share purchases are listed in the attached excel.
 

Share issue in March 2017

The Board of Directors of Cargotec Corporation has decided on a directed share issue related to the reward payments for share-based incentive programmes. The share reward payments are related to Cargotec's share-based incentive programme 2014, 2016 allocation of restricted shares programme 2014-2016 under the share-based incentive programme 2014, and 2016 allocation of restricted shares programme 2016-2018 under the share-based incentive programme 2016.
In the share issue, 56,709 own class B shares held by the company have been transferred without consideration to the key employees participating in the share based incentive programmes in accordance with the programme specific terms and conditions. More detailed information about the launch and the terms and conditions of the programmes is available in stock exchange releases published on 4 February 2014 and on 10 February 2016.

 

Share buyback in November 2016

Cargotec Corporation's Board of Directors has decided to exercise the authorisation of the Annual General Meeting on 22 March 2016 to repurchase company's own shares. Cargotec will repurchase maximum 200,000 class B shares to be used as reward payments for Cargotec's share-based incentive programmes. The shares will be purchased at public trading on Nasdaq Helsinki Ltd at the market price. The repurchases will start on 1 November 2016 at the earliest. According to the authorisation given to the Board of Directors by the Annual General Meeting, the maximum amount of shares that can be acquired is 952,000 class A shares and 5,448,000 class B shares.​
 

Share issue in March 2016

Cargotec’s Board of Directors decided on 22 March 2016 on a directed share issue related to the reward payment for the restricted shares programme 2015 under Cargotec's share-based incentive programme 2014. In the share issue, 27,601 own class B shares held by the company have been transferred without consideration to the key employees participating in the restricted shares programme 2015 in accordance with the terms and conditions of the share-based incentive programme 2014. More detailed information about the launch and the terms and conditions of the programme is available in a stock exchange release published on 4 February 2014.
 

Share buyback in September 2015

Cargotec's Board of Directors decided on 16 September 2015 to exercise the authorisation of the AGM on 18 March 2015 to repurchase company's own shares and purchased in September 92,700 class B shares. The shares will be used as reward payments for Cargotec's share-based incentive programme 2014 and for Cargotec's  restricted share grants 2015 and 2016. Payments and grants will be realised as per their respective terms and conditions, starting on 1 March 2016 at the earliest.
 

Share buyback and share issue in March 2015

On 19 March 2015, Cargotec repurchased 28,030 class B shares to be used as reward payment for the restricted shares programme 2014 under Cargotec's share-based incentive programme 2014. The purchase was based on the authorisation granted to the Board by the Annual General Meeting 2015.  The total purchase price was EUR 940,317.78.
The Board of Directors decided on 18 March 2015 on a directed share issue related to the reward payment for the restricted shares programme 2014 under Cargotec's share-based incentive programme 2014. In the share issue, 28,030 own class B shares held by the company were transferred without consideration to the key employees participating in the restricted shares programme 2014. More detailed information about the launch and the terms and conditions of the programme is available in a stock exchange release published on 4 February 2014. 
 

Share buyback and share issue in March 2014

On 12 March 2014, Cargotec repurchased 26,684 own class B shares based on the authorisation of the 2013 Annual General Meeting. The total purchase price was EUR 867,737.00. 

Cargotec's Board of Directors decided on 18 March 2014 on a directed share issue as a reward payment under the share-based incentive programme 2013. Cargotec transferred 26,684 class B shares held by the company without consideration to 20 persons participating in the incentive programme according to the terms and conditions of the programme on 31 March 2014. More detailed information about the launch and the terms and conditions of the programme is available in a stock exchange release published on 23 August 2013.
 

Share issue in December 2013

Cargotec's Board of Directors decided on 3 December 2013  to offer up to 2,959,487 Cargotec class B shares held in treasury by the company to a limited number of selected domestic and international institutional qualified investors in an accelerated book-built offering deviating from the shareholders' pre-emptive subscription right. The shares were repurchased in 2005 - 2008.
 
The shares correspond to approximately 5.40 percent of the class B shares and 4.60 percent of all the shares and 1.97 percent of all voting rights in the company following the completion of the share issue. Following the share issue, the total number of issued class B shares remains unchanged.
 
The subscription price was set at EUR 25.00 per share, amounting to a total of EUR 74.0 million before commissions and expenses.

Additional information

Option rights

Cargotec has no valid option programmes. Details of the two expired option programmes are below. 

Option programme 2010

The Annual General Meeting 2010 confirmed that stock options will be issued to the key personnel of Cargotec and its subsidiaries. The maximum total number of stock options issued was 1,200,000 and the stock options entitled their owners to subscribe for a maximum total of 1,200,000 new class B shares in Cargotec.

The share subscription price was be based on the volume weighted average price of the company’s class B share on the Nasdaq Helsinki Ltd during two full weeks following the Annual General Meeting in 2010, 2011 and 2012. Dividends paid annually were deducted of subscription price. The beginning of the share subscription period required attainment of targets established for a financial criterion determined by the Board of Directors annually. 

The stock options 2010A and 2010B were issued in the Finnish paperless book-entry system and listed on the main list of Nasdaq Helsinki Ltd. 

​ 2010A​ ​2010B
​​Share subscription period ​1 April 2013 - 
30 April 2015 		 ​1 April 2014 - 
30 April 2016
​Conversion rate ​1:1 ​1:1
​Subscription price ​​EUR 18.05 / share ​​EUR 27.74/ share
​No of option rights to be used for share subscription ​400,000 ​21,136
​Option rights exercised ​384,912 ​18,376
​Class B shares subscribed ​384,912 ​18,376

A total of 378,864 stock options 2010B and a total of 400,000 stock options 2010C held by Cargotec have been cancelled, as the earnings criteria for the stock options were not fulfilled.

Option programme 2005

Cargotec's option program was based on the demerged Kone Corporation's 2004 option programme under which holders of Option Rights under the KONE 2004 Option Program received New Option Rights pursuant to the Demerger as follows:

  • each series A Option Right of Kone Corporation was converted into one (1) Cargotec 2005A Option Right and one (1) series A New KONE Option Right; and
  • each series B Option Right of Kone Corporation was converted into one (1) Cargotec 2005B Option Right and one (1) series B New KONE option right. 
​ 2005A​ ​2005B
​Share subscription period ​13.6.2005-31.3.2008 ​13.6.2005-31.3.2009
​Conversion rate ​1:3 ​1:3
​Subscription price ​EUR 8.59/share ​EUR 8.59/share
​Option rights exercised ​72,185 ​111,190
​B shares subscribed​ ​216,555 ​333,570

Additional information

Authorisations

Cargotec's Board of Directors has been authorised by the Annual General Meetings in 2014 and 2017 as follows:

Repurchasing of own shares

The Annual General Meeting of 21 March 2017 authorised the Board of Directors to decide on the repurchase of own shares with non-restricted equity. Altogether no more than 6,400,000 own shares may be purchased, of which no more than 952,000 are class A shares and 5,448,000 are class B shares. This authorisation shall remain in effect for a period of 18 months from the resolution by the Annual General Meeting.

 

Issuance of shares as well as issuance of options and other special rights entitling to shares

The Annual General Meeting of 18 March 2014 authorised the Board of Directors to decide on the issuance of shares as well as the issuance of options and other special rights entitling to shares referred to in chapter 10 section 1 of the Finnish Companies Act. The amount of shares to be issued based on this authorisation shall not exceed 952,000 class A shares and 5,448,000 class B shares. The authorization covers both the issuance of new shares as well as the transfer of treasury shares. The authorisation remains in effect for a period of five years following the date of decision of the Annual General Meeting.

Additional information