Aker Kvaerner Group
enormously decrease in shareholders value
from 1996 to 2001.
Her is some of Kvaerners key share figures that shows this effect very clearly.
Dividend
2001 2000 1999 1998 1997
Dividend per share (NOK)1) 0 0 0 0 7.00
Market capitalisation, number of shareholders and number of share adjusted for dilution effects
2001 2000 1999 1998 1997
Adjusted number of share at 31 December 1) 106 633 916 106 633 916 68 312 634 48 794 738 48 794 738
Average number of shares1) 106 633 916 83 735 536 58 553 686 48 794 738 48 794 738
Number of shareholders 32 560 18 883 17 409 18 821 13 395
Market capitalisation at 31 December (NOK millions) 922 6 665 10 110 6 292 16 104
Movement in share price 1)
Amounts in NOK
2001 2000 1999 1998 1997
Price of A shares 31 December 8.65 62.5 135.5 114.6 287.2
High 63.94 143.2 150.4 291.0 365.9
Low 5.97 62.5 97.8 57.3 228.4
Price of B shares 31 December N/A N/A 132.5 111.8 306.9
High N/A 139.0 140.4 313.1 396.4
Low N/A 72.0 93.9 53.7 238.9
1) Adjusted for dilution effects of subsequent share splits, options granted, bonus issues and stock dividend issues.
2) Pay out ratio = (Dividend/Net profit)
3) Preliminary
When they started the restructuring and downsizing in 1999, I think they did the only reasonable
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