7.11 Earnings per share
Excel download (20 KB)Basic and fully diluted earnings per share
| 2008 | 2007 | |||||
|---|---|---|---|---|---|---|
| Result (in EUR thousand) |
No. of shares | Per share |
Result (in EUR thousand) |
No. of shares | Per share |
|
| Group net income | (126,987) | – | – | 721,663 | – | – |
| Weighted average of issued shares | – | 120,594,783 | – | – | 120,597,134 | – |
| Earnings per share | (126,987) | 120,594,783 | (1.05) | 721,663 | 120,597,134 | 5.98 |
| from continuing operations | (126,987) | 120,594,783 | (1.05) | 686,578 | 120,597,134 | 5.69 |
| from discontinued operations | – | 120,594,783 | – | 35,085 | 120,597,134 | 0.29 |
Due to the reduction in the interest held in E+S Rück in the third quarter of the 2007 financial year - which was recognised retrospectively in equity - the Group "net income for the comparable period of the previous year decreased by altogether EUR 12.0 million. As a result, both the earnings per share and the earnings per share from continuing operations for the previous period had to be reduced by EUR 0.10 per share. For further details please see our comments in Section 3.1 "Change in accounting policies".
Neither in the year under review nor in the previous reporting period were there any dilutive effects. On account of this year's employee share option plan Hannover Re acquired treasury shares in the course of the fourth quarter of 2008 and sold them to the eligible employees. The weighted average of shares in circulation during the reporting period was therefore insignificantly lower than in the previous year. For further details please see our comments in Section 7.10 "Treasury shares".
There were no other extraordinary components of income which should have been recognised or disclosed separately in the calculation of the earnings per share.
The earnings per share could potentially be diluted in future through the issue of shares or subscription rights from the authorised or conditional capital.
Dividend per share
Dividends and bonus dividends of EUR 277.4 million (EUR 193.0 million) were paid in the year under review for 2007.
On the occasion of the Annual General Meeting to be held on 5 May 2009 it will be proposed that a dividend should not be distributed for the 2008 financial year. The dividend proposal does not form part of this consolidated financial statement.