Investor Presentaiton
85
A.P. Moller-Maersk Annual Report 2020
Financials
Consolidated financial statements
Notes index
Note 11 Share capital and earnings per share - continued
The basis for calculating earnings per share is the following:
Table 11.3
A.P. Møller Mærsk A/S' shareholders' share of:
2020
2019
Profit/loss for the period of continuing operations
2,850
Profit/loss for the period of discontinued operations
Profit/loss for the year
2,850
469
-553
-84
Table 11.4
Issued shares 1 January
Average number of own shares
Average number of cancelled shares
Average number of shares
Note 12 Share-based payment
2020
2019
20,816,862
729,307
456,795
19,630,760
20,816,862
275,236
20,541,626
Amounts in USD million =
Table 11.3
Dividend
The Board of Directors proposes a dividend to the share-
holders of DKK 330 per share of DKK 1,000 - a total of DKK
6,611, equivalent to USD 1,092 at the exchange rate as per
31 December 2020. (DKK 150 per share of DKK 1,000 - total
of DKK 3,123m equivalent to USD 468m). Payment of divi-
dends is expected to take place on 26 March 2021.
Payment of dividends to shareholders does not trigger
taxes to A.P. Moller - Maersk.
Table 11.4
Earnings per share
At 31 December 2020, there is dilution effect on earnings
per share of the 66,971 (0) issued share options while there
is no dilution effect on earnings per share of the 21,459
(67,825) issued shares options. The issued share options
correspond to 0.33% (0%) and 0.11% (0.33%) of the total
average number of shares in the Group respectively.
All the restricted shares of 17,691 have dilution effect. The
issued restricted shares correspond to 0.09% of the total
average number of shares in the Group.
Table 12.1
Members of
Employees
Total
the Executive
Total fair
value1
Table 12.1
Board
Outstanding restricted shares
No.
No.
No.
1 January 2019
1,002
12,786
13,788
Granted
1,310
4,319
5,629
7
Granted in connection with Maersk Drilling demerger
294
1,286
1,580
Exercised
4,756
4,756
Forfeited
739
1,700
2,439
Outstanding 31 December 2019
1,867
11,935
13,802
Granted
1,626
6,165
7,791
Exercised
3,777
Forfeited
125
Outstanding 31 December 2020
3,493
14,198
3,777
125
17,691
USD million
7
Restricted shares plan
The restricted shares plan was introduced in 2013, and
grants have been awarded to employees on a yearly basis
since 2013. Beginning in 2018, grants have also been
awarded to members of the Executive Board.
The transfer of restricted shares is contingent upon
the employee still being employed and not being under
notice of termination and takes place when three years
have passed from the time of granting. For members of
the Executive Board the vesting period is five years.
The members of the Executive Board as well as other em-
ployees are not entitled to any dividends during the vesting
period. Special conditions apply regarding illness, death
and resignation as well as changes in the company's capital
structure, etc. A part of A.P. Møller-Mærsk A/S' holding of
own B shares will be used to meet the company's obliga-
tions in connection with the restricted shares plan.
The fair value of restricted shares (A.P. Møller-Mærsk A/S
B shares) granted to 96 (92) employees and five (five)
members of the Executive Board was USD 7m (USD 7m) at
the time of grant.
The fair value per restricted share at the time of grant
is DKK 5,975 (DKK 8,668), which is equal to the volume
weighted average share price on the date of grant, i.e.
1 April 2020.
The payroll expense related to the restricted shares plan
is USD 6m (USD 5m).
On 1 April 2020, the restricted shares originally granted
in 2017 were settled with the employees. The weighted
average share price at that date was DKK 5,975.
The average remaining contractual life for the restricted
shares as per 31 December 2020 is 1.8 years (1.7 years).
1 At the time of grant.View entire presentation