1.7 Accell Group shares
Stock exchange listing
Accell Group shares have been traded on the NYSE Euronext Amsterdam stock exchange since October 1998 (symbol: ACCEL / ISIN: NL0009767532). The share has been part of the Amsterdam Small Cap Index (AScX) since 2008.
As per 31 December 2015, 25,270,327 ordinary shares with a nominal value of € 0.01 had been issued. The closing price at year-end 2015 was € 21.07 (2014: € 13.60). Around 6.1 million Accell group shares were traded in 2015 (2014: 4.0 million), with an average of around 23,000 shares traded per trading day. The closing price of € 21.07 on 31 December 2015 constitutes a share price gain of around 55% compared with the closing price as at 31 December 2014 (€ 13.60).
Share price development
Disclosures of major holdings and capital interests
In the context of the act on disclosures of major holdings and capital interests, the Financial Markets Authority (AFM) has published the following statement of interests of 3% or more in Accell Group.
Accell Group strives for a stable dividend policy, aimed at paying out at least 40% of net profit. In 2015, Accell Group paid out an optional dividend for 2014 of € 0.61 per outstanding ordinary share. The pay-out ratio was 58% of net profit and the dividend yield was 4.5% (based on the 2014 closing share price). At the close of the optional period, 43% of Accell Group shareholders had opted to receive a stock dividend.
Dividend proposal 2015
Given the developments of the financial results Accell Group strives to reduce the pay-out ratio of dividends to an historically more normal level of around 50%. At the same time, Accell Group feels that in determining the amount of dividend the costs related to the incident in Taiwan should not be taken into account. In the fiscal year 2015, therefore, shareholders will be proposed to receive a dividend of € 0.72 per share (2015: € 0.61) either in cash or in stock. Herewith the pay-out ratio amounts to 56%. Based on the closing price of 2015 (€ 21.07) dividend yield is 3.4%.
The use of an optional dividend means a higher pay-out ratio can be used while also maintaining a healthy balance sheet for future acquisitions. Accell Group believes this is entirely in line with the group’s growth strategy. The optional dividend enables Accell Group to offer its shareholders a high dividend yield while also improving its solvency ratio. The Board of Directors believes that this dividend yield and this form of dividend are competitive when compared to other listed companies.
Accell Group strives to provide its shareholders, potential shareholders and other financial stakeholders with all relevant strategic, financial and other material information, accurately, meticulously and in a timely fashion, to improve insight into the company, current developments and the market in which it operates. Accell Group’s financial year is the same as the calendar year and runs from January through December. Accell Group publishes its full financial results annually and semi-annually. Accell Group also publishes qualitative trading updates on the company’s financial and operational developments in April and November. Such publications, as well as other (non-financial) announcements, appointments and explanations will also be made in accordance with the prevailing regulations and the guidelines of Euronext Amsterdam and the Dutch financial markets regulator Autoriteit Financiële Markten (AFM).
The company organises meetings with (major) shareholders, analysts and the media for the presentation and explanation of the annual and interim results. Prior to the publication of annual and interim results, Accell Group maintains closed periods of 6 and 3 weeks respectively. During these periods, there are no meetings or conversations with (potential) shareholders, analysts or other financial stakeholders.
In the course of the year, Accell Group conducts an investor relations policy, both for institutional investors and private investors. In the course of the year and outside the closed periods, members of the Board of Directors regularly have one-to-one meetings with major shareholders and interested institutional investors. It is worth noting that the awareness of and interest in Accell Group among foreign investors is increasing. The same is true for the interest from investors that focus on sustainability and corporate social responsibility, themes Accell Group also focuses on via its products and strategy. You will find more information about the bilateral policy on Accell Group’s website.
As in previous years, in 2015 Accell Group arranged meetings and company visits for (private) investors and shareholders at the various Accell Group companies. The company also arranged regular interviews with the (financial) media, both during the financial results publication period and outside those periods.
Financial calendar 2016
The following publication dates and other relevant dates are on the calendar for 2016:
29 March 2016
Registration date General Meeting of Shareholders
26 April 2016
26 April 2016
General Meeting of Shareholders
28 April 2016
29 April 2016
Registration date dividend entitlement
2 May 2016 - 17 May 2016
Optional period dividend
18 May 2016
Determination swap ratio optional dividend
20 May 2016
22 July 2016
Publication interim results
15 November 2016