H
116
20 Equity attributable to common shareholders
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Ahold Annual Report 2013
Shares and share capital
Authorized share capital is comprised of the following classes of shares as of December 29, 2013:
million
Common shares (1,700,000,000 of €0.30 par value each)
510
Cumulative preferred shares (1,250,000 of €500 par value each)
625
Total authorized share capital
1,135
In addition, Ahold has cumulative preferred financing shares outstanding. These cumulative preferred financing shares are considered debt under IFRSs until the date that Ahold receives
irrevocable notification from a holder of cumulative preferred financing shares to convert these shares into common shares. Upon this notification, the cumulative preferred financing shares
are classified as a separate class of equity since they no longer meet the definition of a liability. For disclosures regarding Ahold's cumulative preferred financing shares, see Note 22.
Common shares and additional paid-in capital
Changes in the number of common shares and the number of treasury shares were as follows:
Number of common
Number of common
shares issued and fully
Number of treasury
shares outstanding
paid (x 1,000)
shares (x 1,000)
(x 1,000)
Balance as of January 1, 2012
1,100,888
41,083
1,059,805
Share buyback
26,832
(26,832)
Cancellation of treasury shares
(39,900)
(39,900)
Share-based payments
(5,534)
5,534
Balance as of December 30, 2012
1,060,988
22,481
1,038,507
Share buyback
61,009
(61,009)
Share-based payments
(4,995)
4,995
Balance as of December 29, 2013
1,060,988
78,495
982,493
Dividends on common shares
On April 17, 2013, the General Meeting of Shareholders approved the dividend over 2012 of €0.44 per common share (€457 million in the aggregate). The dividend was paid on
May 2, 2013. The Management Board, with the approval of the Supervisory Board, proposes that a dividend of €0.47 per common share be paid in 2014 with respect to 2013. This dividend
is subject to approval by the General Meeting of Shareholders and has not been included as a liability on the consolidated balance sheet as of December 29, 2013. The payment of this
dividend will not have income tax consequences for the Company.
Share buyback
On February 28, 2013, Ahold announced its decision to return €500 million to its shareholders by way of a share buyback program to be completed over a 12-month period. Subsequently,
on June 4, 201 3, Ahold announced an extension to this program of an additional €1.5 billion, for a total share buyback of €2 billion, expected to be completed by the end of 2014. Under
this program, 61,008,851 of the Company's own shares were repurchased and delivered in 2013. Shares were repurchased at an average price of €12.58 per share for a total amount of
€768 million.
On March 1 9, 2012, Ahold completed its €1 billion share buyback program announced on March 3, 2011Under this program, 106,814,343 of the Company's own shares were
repurchased and delivered in 2011 and 2012 (2011: 79,982,258 and 2012: 26,832,085) for a total consideration of €1 billion (201 1€723 million and 2012: €277 million), at an
average price of €9.36 (201 1€9.04 and 2012: €10.33).
Of the total shares repurchased, 39,900,000 were cancelled on July 9, 2012.