Earnings per Share
Under IAS 33.10, basic earnings per share “shall be calculated by dividing profit or loss attributable to ordinary equity holders of the parent entity (the numerator) by the weighted average number of ordinary shares outstanding (the denominator) during the period”. The number of ordinary shares outstanding was 105,000,000 for all of 2007.
Since there were no potential ordinary shares with dilutive effects either in 2006 or in the current reporting period, the basic earnings per share correspond to the diluted earnings per share.
Consolidated shareholders’ equity
The share capital of Wiener Städtische Versicherung AG Vienna Insurance Group is equal to EUR 109,009,251.26. It is divided into 105,000,000 no-par value ordinary bearer shares with voting rights, each share representing an equal portion of share capital. The Management Board authorized, until 23 May 2010 at the latest, to increase the capital stock of the company – in several tranches if need be – by a par value of EUR 16,982,187.89 through the issuance of 16,357,600 no-par value ordinary bearer or registered shares against cash contributions or contributions in kind. The content of the share rights as well as the other terms and conditions of the share issue shall be decided upon by the Management Board, with the approval of the Supervisory Board. Preference shares without voting rights may also be issued as part of this process, with rights equivalent to those of existing preference shares. The issue prices of ordinary and preference shares may differ.
By resolution of the General Shareholders’ Meeting of 25 May 2007, the following dividend distributions took place during the reporting period:
Proposed Allocation of Profits
WIENER STÄDTISCHE Versicherung AG Vienna Insurance Group concluded fiscal year 2007, under Austrian accounting rules, with an unappropriated surplus for the year of EUR 196,255,109.16. The following allocation of profits has been proposed in connection with the ordinary General Shareholders’ Meeting: The 105 million shares are to receive a dividend of EUR 1.10 per share. A total of EUR 115,500,000 is to be distributed. The unappropriated surplus of EUR 80,755,109.16 for the 2007 fiscal year remaining after distribution of dividends is to be carried forward to the next accounting period.