Notes to the consolidated financial statements
105
20 Equity attributable to common shareholders (continued)
Common shares and additional paid-in capital
Dividends on common shares
Ahold at a glance
Business review
Governance
Financials
Ahold
Annual Report 2015
Changes in the number of common shares and the number of treasury shares were as follows:
Number of commor
shares issued and fully
paid (x 1,000)
Number of treasury
shares (x 1,000)
Number of common
shares outstanding
(x 1,000)
Balance as of December 29, 2013
1,060,988
78,495
982,493
Share buyback
92,485
(92,485)
Reverse stock split
(81,615)
(7,999)
(73,616)
Cancelation of treasury shares
(85,000)
(85,000)
Share-based payments
(6,205)
6,205
Balance as of December 28, 2014
894,373
71,776
822,597
Share buyback
8,795
(8,795)
Cancelation of treasury shares
(60,000)
(60,000)
Share-based payments
(4,669)
4,669
Balance as of January 3, 2016
834,373
15,902
818,471
On April 15, 2015, the General Meeting of Shareholders approved the dividend over 2014 of €0.48 per common share (€396 million in the aggregate). This dividend was paid on April 30, 2015. The Management
Board, with the approval of the Supervisory Board, proposes that a dividend of €0.52 per common share be paid in 2016 with respect to 2015. 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 January 3, 2016. The payment of this dividend will not have income tax consequences for the Company,
Share buyback and capital repayment and reverse stock split
On February 26, 2015, 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. Under this program, 8,795,407 of the
Company's own shares were repurchased in 2015. Shares were repurchased at an average price of €18.32 per share for a total amount of €161 million. As a result of the announcement that Ahold intends to merge with
Delhaize, the share buyback program was terminated and approximately €1 billion will be returned to shareholders via a capital return and reverse stock split subject to the conditions as explained in Note 35.
On December 12, 2014, Ahold completed its share buyback program initially announced as €500 million on February 28, 2013, and subsequently increased to €2 billion on June 4, 2013. Under this program,
153,494,149 of the Company's own shares were repurchased in 2013 and 2014 (2013: 61,008,851 and 2014: 92,485,298) for a total consideration of €2 billion (2013: €768 million and 2014: €1,232 million), at an
average price of €13.03 (2013: €12.58 and 2014: €13.32).
On January 21, 2014, a capital repayment and reverse stock split was approved at an Extraordinary General Meeting of Shareholders. On March 28, 2014, the reverse stock split became effective. Every 13 existing shares
with a nominal value of €0.30 each were consolidated into 12 new shares with a nominal value of €0.01 each. The capital repayment of €1.14 per remaining share, €1,007 million in the aggregate (excluding transaction
costs), took place on April 3, 2014. The capital reduction attributable to treasury shares, which was €109 million in the aggregate, is reported in Other reserves.
Of the total shares repurchased, 60,000,000 were canceled on July 7 2015, and 85,000,000 were canceled on June 20, 2014.
Share-based payments
Share-based payments recognized in equity in the amount of €66 million (2014: €50 million) relate to the 2015 GRO share-based compensation expenses of €47 million (2014: €43 million) (see Note 32); the stock options
exercised of nil (2014: €1 million); and the current and deferred income taxes recognized in and transferred from equity relating to share-based compensation of €19 million (2014: €6 million) (see Note 10
