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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.
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.
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 paid twice a year.
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.
The Board of Directors proposes to the Annual General Meeting (AGM), that of the distributable profit, a dividend of EUR 1,19 for each class A shares and EUR 1,20 for each class B shares outstanding be paid for the financial year 2019. The Board also proposes that the dividend shall be paid in two instalments, originally planned to be in March and October 2020. Based on the development of the coronavirus (COVID-19) situation and the announcement by the Finnish Government on 16 March 2020, Cargotec decided to cancel its 17 March 2020 Annual General Meeting and move it to a later stage. New invitation to AGM will be published later.
The dividend for class A shares would be paid in EUR 0.60 and EUR 0.59 instalments. The dividend for outstanding class B shares would be paid in two EUR 0.60 instalments.
| | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 |
|---|---|---|---|---|---|---|---|
| Dividend, A share, EUR | 1.19* | 1.09 | 1.04 | 0.94 | 0.79 | 0.54 | 0.41 |
| Dividend, B share, EUR | 1.20* | 1.10 | 1.05 | 0.95 | 0.80 | 0.55 | 0.42 |
| Earnings per share, EUR | 1.39 | 1.66 | 2.05 | 1.95 | 2.21 | 1.11 | 0.89 |
| Dividend/EPS, % (B share) | 86.4* | 66.4 | 51.1 | 48.7 | 36.1 | 49.6 | 47.1 |
* Board proposal
| 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
| Earnings per share | |||||||
| Basic, EUR | 1.39 | 1.66 | 2.05 | 1.95 | 2.21 | 1.11 | 0.89 |
| Diluted, EUR | 1.39 | 1.65 | 2.05 | 1.94 | 2.21 | 1.11 | 0.89 |
| Equity per share, EUR | 22.12 | 22.16 | 22.06 | 21.65 | 20.73 | 18.76 | 19.18 |
| Dividend per B share, EUR | 1.20* | 1.10 | 1.05 | 0.95 | 0.80 | 0.55 | 0.42 |
| Dividend per A share, EUR | 1.19* | 1.09 | 1.04 | 0.94 | 0.79 | 0.54 | 0.41 |
| Dividend per earnings, B share, % | 86.4* | 66.4 | 51.1 | 48.7 | 36.1 | 49.6 | 47.1 |
| Dividend per earnings, A share, % | 85.9* | 65.9 | 50.8 | 48.3 | 35.7 | 48.7 | 46.0 |
| Effective dividend yield, B share, % | 4.0* | 4.1 | 2.2 | 2.2 | 2.3 | 2.2 | 1.6 |
| Price per earnings, B share, EUR | 21.8 | 16.1 | 23.0 | 22.0 | 15.6 | 23.0 | 30.4 |
| Development of share price, class B share, EUR | |||||||
|---|---|---|---|---|---|---|---|
| Average price | 31.09 | 41.28 | 49.85 | 34.31 | 31.58 | 27.65 | 24.49 |
| Highest price | 38.48 | 51.30 | 59.25 | 43.35 | 37.37 | 34.67 | 29.69 |
| Lowest price | 24.12 | 26.46 | 40.26 | 24.30 | 23.70 | 20.57 | 19.35 |
| Closing price, end of period | 30.24 | 26.72 | 47.20 | 42.89 | 34.50 | 25.55 | 27.09 |
| Market capitalisation, B share, 31 Dec, MEUR** | 1,660 | 1,464 | 2,595 | 2,355 | 1,900 | 1,403 | 1,484 |
| Trading volume, number of B shares, '000*** | 28,772 | 33,506 | 33,407 | 42,653 | 58,340 | 53,641 | 41,105 |
| Trading volume, number of B shares, %*** | 53.0 | 60.1 | 60,0 | 73.9 | 104.5 | 96.0 | 74.0 |
| Outstanding shares, number of B shares, '000 | 54,878 | 54,802 | 54,974 | 54,917 | 55,072 | 54,911 | 54,789 |
* Board proposal
**Excluding own shares
*** On Nasdaq Helsinki Ltd
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.
The total number of votes attached to all shares was 15,041,133 at the end of 2019.
| | A shares | B shares | Share capital, EUR |
|---|---|---|---|
| 31 Dec 2019 | 9,526,089 | 55,182,079 | 64,304,880 |
| 31 Dec 2018 | 9,526,089 | 55,182,079 | 64,304,880 |
| 31 Dec 2017 | 9,526,089 | 55,182,079 | 64,304,880 |
| 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 |
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.
The Board of Directors of Cargotec Corporation has on 17 March 2020 decided on a directed share issue related to the reward payments for share based incentive programmes. The share reward payments are related to performance period 2018–2019 of Cargotec’s share-based incentive programme launched in 2017 and first matching period of matching share programme launched in 2019.
In the share issue, 73,067 own class B shares held by the company have been transferred today 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 8 February 2017 and on 20 February 2019.
Link to release on 31 March 2020
The Board of Directors of Cargotec Corporation has on 19 March 2019 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 launched in 2016, 2018 allocation of restricted shares programme 2016-2018 under the share-based incentive programme 2016 and performance period 2017-2018 of share-based incentive programme launched in 2017.
In the share issue, 115,275 own class B shares held by the company have been transferred today 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 10 February 2016 and on 8 February 2017.
Cargotec Corporation's Board of Directors has decided to exercise the authorisation of the Annual General Meeting on 20 March 2018 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 20 December 2018 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.
Cargotec Corporation's Board of Directors has decided to exercise the authorisation of the Annual General Meeting on 20 March 2018 to repurchase company's own shares. Cargotec will repurchase maximum 150,000 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 20 July 2018 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.
Link to release on 19 July 2018
The Board of Directors of Cargotec Corporation has on 20 March 2018 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 2015, as well as 2017 allocation of restricted shares programme 2016-2018 under the share-based incentive programme 2016.
In the share issue, 138,787 own class B shares held by the company have been transferred today in 29 March 2018 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 10 February 2015 and on 10 February 2016.
Cargotec has no valid option programmes. Details of the two expired option programmes are below.
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.
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:
| | 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 |
