31 Shareholders' equity
Movements in the shareholders' equity are shown in the following table.
Download data(x EUR million) | Share capital | Share premium | Revaluation reserve | Hedging reserve | Translation reserve | Other reserve | Net result | Total |
|---|---|---|---|---|---|---|---|---|
Book value as per 1 January 2015 | 499.3 | 626.7 | 687.5 | -49.0 | -33.6 | -348.1 | -227.7 | 1,155.1 |
Result for the financial year | - | - | - | - | - | - | 90.9 | 90.9 |
Allocation result previous year | - | - | - | - | - | -227.7 | 227.7 | - |
Movement revaluation reserve | - | - | 88.3 | - | - | -88.3 | - | - |
Movement hedging reserve | - | - | - | 23.0 | - | - | - | 23.0 |
Exchange rate difference | - | - | - | - | 16.4 | - | - | 16.4 |
Other movements | - | - | - | - | - | 0.2 | - | 0.2 |
- | ||||||||
Book value as per 31 December 2015 | 499.3 | 626.7 | 775.8 | -26.0 | -17.2 | -663.9 | 90.9 | 1,285.6 |
Result for the financial year | - | - | - | - | - | - | 128.9 | 128.9 |
Allocation result previous year | - | - | - | - | - | 90.9 | -90.9 | - |
Movement revaluation reserve | - | - | 37.6 | - | - | -37.6 | - | - |
Movement hedging reserve | - | - | - | 6.8 | - | - | - | 6.8 |
Movement exchange rate difference | - | - | - | - | -43.8 | - | - | -43.8 |
Dividend | 2.2 | -28.2 | - | - | - | - | - | -26.0 |
Other movements | - | - | - | - | - | - | - | - |
Book value as per 31 December 2016 | 501.5 | 598.5 | 813.4 | -19.2 | -61.0 | -610.6 | 128.9 | 1,351.5 |
In the totals, the company does not recognise any difference between the shareholders' equity according to the consolidated annual accounts and the shareholders' equity according to the company annual accounts. The statutory reserves (revaluation reserve, hedging reserve and exchange rate differences reserve) are legal reserves and therefore not freely distributable.
Share capital
The company's authorised share capital amounts to EUR 1,589.0 million and is divided into 3.5 million shares, each with a nominal value of EUR 454.0. The number of outstanding and fully paid shares at the end of the financial year amounted to 1,104,462 shares (2015: 1,099,682).
The number of shares issued increased by 4,780 shares in 2016 as a result of the 2015 dividend distributed in 2016, for which shareholders could opt for cash or stock dividend. The dividend distributed amounted to EUR 29.10 per share, where those opting for stock dividend received a bonus of 3%. The total cash dividend distributed over 2015 amounted to EUR 26.0 million.
For a further explanation of the share capital please refer to the explanation on consolidated shareholders' equity, in the shareholders' equity section of the consolidated annual accounts.
Statutory revaluation reserve
The revaluation reserve is formed after deduction of taxes, taking the prevailing tax rates in the various jurisdictions into account.
Statutory hedging reserve
In line with the company's decision, from the 2014 financial year, to no longer apply hedge accounting to the changes in the fair value of interest rate derivatives, the cumulative reserve accumulated up to and including 31 December 2013 will be amortised at the expense of the indirect result from the 2014 financial year based on the term to maturity of the interest rate derivatives.
Statutory translation reserve
The statutory exchange rate differences reserve comprises the foreign exchange rate differences arising from the translation of foreign operations, as well as the cumulative effective portion of movements in value arising from currency derivatives held in the past. The movement in the financial year relates entirely to foreign exchange rate differences arising from the translation of foreign activities.