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Annual Report 2016 Corporate governance report Board of Directors and Auditors Group Management Internal control AGM Events and reports

Shares and shareholders

The Electrolux share is listed on Nasdaq Stockholm. At year-end 2016, Electrolux had 48,939 shareholders according to Holdings and Euroclear Sweden AB. Of the total share ­capital, 48% was owned by Swedish institutions and mutual funds, 46% by foreign investors and 6% by Swedish private investors, see below. Investor AB is the largest shareholder, holding 15.5% of the share capital and 29.96% of the ­voting rights. The ten largest shareholders accounted for 39.8% of the share capital and 50.7% of the voting rights in the ­company. 

Voting rights

The share capital of Electrolux consists of Class A shares and Class B shares. One A share entitles the holder to one vote and one B-share to one-tenth of a vote. Both A shares and B shares entitle the holders to the same proportion of assets and earnings and carry equal rights in terms of dividends. Owners of A shares can request to convert their A shares into B shares. Conversion reduces the total number of votes in the company. As of December 31, 2016, the total number of registered shares in the company amounted to 308,920,308 shares, of which 8,192,539 were Class A shares and 300,727,769 were Class B shares. The total number of votes in the company was 38,265,316. Class B shares represented 78.6% of the voting rights and 97.3% of the share capital.

Dividend policy

Electrolux target is for the dividend to correspond to at least 30% of the income for the period. For a number of years, the dividend level has been considerably higher than 30%.

The Annual General Meeting (AGM) in April 2016 decided to adopt the Board’s proposed dividend of SEK 6.50 per share for 2015. The Board of Directors proposes a ­dividend for 2016 of SEK 7.50 per share to be paid in two equal installments, for a total dividend payment of approximately SEK 2,155m.

Swedish institutions and
mutual funds, 48%
Foreign investors, 46%
Swedish private investors, 6%
Swedish institutions and</br> mutual funds, 48% 48
Foreign investors, 46% 46
Swedish private investors, 6% 6

Source: Euroclear Sweden and Holdings as per December 31, 2016.

The foreign ownership has decreased to 46% at year-end 2016 from 52% at year-end 2015.

Foreign investors are not always recorded in the share register. Foreign banks and other custodians may be registered for one or several customers’ shares, and the actual owners are then usually not displayed in the register. For additional information regarding the ownership structure, see above.

The information on ownership structure is updated quarterly on the Group’s website; www.electroluxgroup.com/corporate-governance.