The Electrolux share is listed on Nasdaq Stockholm. At year-end 2015, Electrolux had 45,485 shareholders according to the share register kept by Euroclear Sweden AB. Of the total share capital, 42% was owned by Swedish institutions and mutual funds, 52% by foreign investors and 6% by Swedish private investors, see below. Investor AB is the largest shareholder, holding 15.5% of the share capital and 29.96% of the voting rights. The ten largest shareholders accounted for 40.4% of the share capital and 51.2% of the voting rights in the company.
The share capital of Electrolux consists of Class A shares and Class B shares. One A share entitles the holder to one vote and one B-share to one-tenth of a vote. Both A shares and B shares entitle the holders to the same proportion of assets and earnings and carry equal rights in terms of dividends. Owners of A shares can request to convert their A shares into B shares. Conversion reduces the total number of votes in the company. As of December 31, 2015, the total number of registered shares in the company amounted to 308,920,308 shares, of which 8,192,539 were Class A shares and 300,727,769 were Class B shares. The total number of votes in the company was 38,265,316. Class B shares represented 78.6% of the voting rights and 97.3% of the share capital.
Electrolux target is for the dividend to correspond to at least 30% of the income for the period. For a number of years, the dividend level has been considerably higher than 30%.
The Annual General Meeting (AGM) in March 2015 decided to adopt the Board’s proposed dividend of SEK 6.50 per share for 2014. The Board of Directors proposes a dividend for 2015 of SEK 6.50 per share, for a total dividend payment of approximately SEK 1,868m.
| Swedish institutions and mutual funds, 42% | 42 |
| Foreign investors, 52% | 52 |
| Swedish private investors, 6% | 6 |
At year-end, about 52% of the total share capital was owned by foreign investors.
Source: Euroclear Sweden and Holdings as of December 31, 2015
The foreign ownership has increased to 52% at year-end 2015 from 49.2% at year-end 2014.
Foreign investors are not always recorded in the share register. Foreign banks and other custodians may be registered for one or several customers’ shares, and the actual owners are then usually not displayed in the register. For additional information regarding the ownership structure, see above.
The information on ownership structure is updated quarterly on the Group’s website; www.electroluxgroup.com/corporate-governance.