The subscribed capital (capital stock) of Wacker Chemie AG amounts to €260,763,000. It consists of 52,152,600 no-par-value shares (total). This corresponds to an accounting par value of €5 per share. There are no different classes of shares. All of the shares are common shares.
In the course of the IPO in April 2006, the number of shares outstanding increased due to the sale of some shares previously held as treasury shares. The following table shows the development in the year under review and in the previous year:
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Units |
2010 |
2009 | ||
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Shares outstanding at the start of the fiscal year |
49,677,983 |
49,677,983 | ||
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Shares outstanding at the end of the fiscal year |
49,677,983 |
49,677,983 | ||
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Treasury shares in portfolio |
2,474,617 |
2,474,617 | ||
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Total shares |
52,152,600 |
52,152,600 |
For more information on Wacker Chemie AG’s shareholder structure, please refer to Note 24
Capital reserves include the amounts generated with share issues over and above their nominal values in previous years, as well as other contributions to equity made by shareholders.
Retained earnings include the amounts formed in previous fiscal years at Wacker Chemie AG, transfers from the Group’s earnings for the year, the earnings of the consolidated companies less amounts due to minority shareholders, changes to consolidated items affecting income, and changes in the scope of consolidation.
The other equity items show both the differences arising from the translation of foreign subsidiaries’ financial statements having reporting currencies other than the euro, and the effects of the valuation of financial instruments with no impact on income.
The net result attributable to non-controlling interests is made up of the following profits and losses:
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€ million |
2010 |
2009 | ||
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Profits |
6.3 |
2.4 | ||
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Losses |
– |
-6.1 | ||
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Net result attributable to non-controlling interests |
6.3 |
-3.7 |
As part of its capital management, Wacker Chemie AG complies with the legal stipulations on capital maintenance. The company is not subject to any capital requirements set down by its Articles of Association. No special capital terminology is used.
The Group’s policy on dividends is generally oriented toward distributing at least 25 percent of net income to shareholders, assuming the business situation allows this and the committees responsible agree.