Share price movement in 2005
The closing price of ASSA ABLOY's Series B share at the end of 2005 was SEK 125.00 (113.50), corresponding to a market capitalization of SEK 45,740 M (41,532). The price of the ASSA ABLOY share thus rose by 10 percent compared with its closing price at the end of 2004. During the same period, the all-share index of the Stockholm Stock Exchange (OMXS) rose by 33 percent. The highest closing price for the share was SEK 126.00, recorded on 29 December, and the lowest was SEK 89.25, recorded on 28 April.
Listing and trading
ASSA ABLOY AB has been listed on the Stockholm Stock Exchange since 8 November 1994. In October 1995 the share was moved to the A list.
During 2005 a total of 648 million shares (594) were traded, which is an average of 2.6 million shares (2.3) per trading day and represents about 180 percent (165) of the listed shares.
Ownership structure
The number of shareholders at year-end was 31,702 (30,191). Investors outside Sweden accounted for 41 percent (36) of the capital and 28 percent (24) of the votes. The ten largest shareholders accounted for some 37 percent (37) of the share capital and 57 percent (57) of the votes. Shareholders with more than 50,000 shares represented about 1 percent of the total number of shareholders and accounted for 91 percent of the capital and 94 percent of the votes.
Share capital and voting rights
The share capital at year-end amounted to SEK 365,918,034, distributed among 19,175,323 Series A shares and 346,742,711 Series B shares. All shares have a par value of SEK 1.00 and provide the holders with equal rights to the Company's assets and earnings. Each Series A share carries 10 votes and each Series B share one vote. The trading lot is 200 shares.
Dividend and dividend policy
The Board of Directors and President propose that SEK 3.25 per share (2.60) – a maximum total amount of SEK 1,189 M – be paid as a dividend to shareholders for the 2005 financial year, corresponding to a direct return of 2.6 percent (2.3) on the Series B share. The aim is that, in the long term, the dividend should correspond to 33–50 percent of ASSA ABLOY's earnings after standard tax of 28 percent, but always taking into account ASSA ABLOY's long-term financial requirements.
SHARE PRICE MOVEMENT AND TRADING 1996–2005
DIVIDEND PER SHARE 1996–2005
Data per share
SEK/share 1 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005  
Earnings after tax and dilution 8 0.93 1.23 1.76 2.00 3 2.73 2.98 2 3.53 3.31 2 6.33 6.97  
Dividend 0.30 0.43 0.60 0.74 0.90 1.00 1.25 1.25 2.60 3.25 4
Direct yield, % 5 1.0 0.8 0.8 0.6 0.5 0.7 1.3 1.5 2.3 2.6  
Dividend % 6, 8 31.6 31.6 33.5 32.6 30.9 30.5 32.2 33.9 42.0 47.6  
Share price at end of period 29.28 51.24 75.65 119.50 184.50 151.00 99.50 85.50 113.50 125.00  
Highest share price 28.97 52.95 92.73 140.00 206.70 186.00 159.50 110.00 113.50 126.00  
Lowest share price 12.38 28.69 48.07 73.21 110.50 94.50 76.50 67.00 84.00 89.25  
Shareholders' equity 8 5.40 8.64 9.93 16.95 3 30.58 3 35.80 35.85 31.23 34.74 42.85  
Number of shares (thousands) 7 265,396 295,448 295,448 324,200 356,712 361,730 370,935 370,935 378,718 378,718  
1 Adjustment made for new issues.
2 Excluding non-recurring items.
3 Key data adjusted following change in accounting principle.
4 Proposed dividend.
5 Dividend as percentage of share price at end of period.
6 Dividend as percentage of adjusted earnings in line with dividend policy.
7 After dilution.
8 1996–2003 have not been adjusted for IFRS.
ASSA ABLOY's 10 largest shareholders
Based on the share register at 31 December 2005.
Owner A shares B shares Capital, % Voting rights, % Investment AB Latour
  6,746,425 19,000,000 7.0% 16.1%
SäkI 7,118,818 2,000,000 2.5% 13.6%
Melker Schörling and companies 5,310,080 9,296,636 4.0% 11.6%
Alecta   18,375,000 5.0% 3.4%
Wärtsilä Corporation   17,270,350 4.7% 3.2%
Robur unit trusts   17,247,595 4.7% 3.2%
SEB unit trusts   10,224,530 2.8% 1.9%
SHB/SPP unit trusts   9,500,612 2.6% 1.8%
Nordea unit trusts   6,662,811 1.8% 1.2%
Second Swedish National Pension Fund   6,418,026 1.8% 1.2%
Other shareholders   230,747,151 63.1% 42.9%
Total number 19,175,323 346,742,711 100.0% 100.0%
Source: SIS Ägarservice AB and VPC AB.
OWNERSHIP STRUCTURE (BY SHARE CAPITAL)
OWNERSHIP STRUCTURE (BY VOTES)
Share capital
Year Transaction A shares C shares B shares Share capital, SEK*
1989     20,000   2,000,000
1994 100:1 split     2,000,000 2,000,000
1994 Bonus issue        
1994 Non-cash issue 1,746,005 1,428,550 50,417,555 53,592,110
1996 New share issue 2,095,206 1,714,260 60,501,066 64,310,532
1996 Conversion of C shares into A shares 3,809,466   60,501,066 64,310,532
1997 New share issue 4,190,412   66,541,706 70,732,118
1998 Converted debentures 4,190,412   66,885,571 71,075,983
1999 Converted debentures before split 4,190,412   67,179,562 71,369,974
1999 Bonus issue        
1999 4:1 split 16,761,648   268,718,248 285,479,896
1999 New share issue 18 437,812   295,564,487 314,002,299
1999 Converted debentures after split and new issues 18,437,812   295,970,830 314,408,642
2000 Converted debentures 18,437,812   301,598,383 320,036,195
2000 New share issue 19,175,323   313,512,880 332,688,203
2000 Non-cash issue 19,175,323   333,277,912 352,453,235
2001 Converted debentures 19,175,323   334,576,089 353,751,412
2002 New share issue 19,175,323   344,576,089 363,751,412
2002 Converted debentures 19,175,323   346,742,711 365,918 034
  Number of shares after dilution 19,175,323   359,542,298 378,717,621
* 1 SEK per share – number of shares at end of period.
Source: SIS Ägarservice AB and VPC AB.