Annual report 2006 - Dexia.com

THE DEXIA SHARE
MAIN SHAREHOLDERS OF DEXIA (1)
Percentage of Dexia SA capital held
Arcofin 17.5%
Holding Communal 16.4%
Caisse des dépôts et consignations 11.8%
Group Ethias 6.4%
CNP Assurances 2.0%
(1) As of December 31, 2006.
MANAGEMENT REPORT
COMPTES CONSOLIDÉS
COMPTES SOCIAUX
NUMBER OF SHARES
Dec. 31, 2002 Dec. 31, 2003 Dec. 31, 2004 Dec. 31, 2005 Dec. 31, 2006
Number of shares 1,181,685,852 1,175,222,680 1,145,261,366 1,107,469,030 1,163,184,325
of which Treasury shares 20,082,005 32,546,412 40,050,935 20,550,020 490,607
Number of options 31,809,349 43,301,416 50,684,800 55,903,030 58,697,872
Total number of current/
potential future shares (1) 1,213,495,201 1,218,524,096 1,195,946,166 1,163,372,060 1,221,882,197
(1) For more details, refer to “Legal Information” on www.dexia.com.
DATA PER SHARE
2002 2003 2004 2005 2006
Earning per share – EPS (in EUR)
- basic under Dexia GAAP (1) 1.13 1.24 1.58 - -
- basic under EU GAAP (1) - - 1.63 1.87 2.49
- diluted under EU GAAP (2) - - 1.62 1.85 2.45
Average weighted number
of shares (3)
- basic 1,150 867,134 1,157,363,982 1,118,723,767 1,091,316,100 1,104,950,054
- diluted - 1,124,050,279 1,103,413,861 1,120,893,987
Net assets per share (in EUR) (4)
- under Dexia GAAP (5) 8.79 9.25 9.95 - -
- related to core shareholders’ equity (6) - - 8.87 (8) 9.86 11.60
- related to total shareholders’ equity (7) - - 10.32 (8) 12.25 13.21
Dividend (in EUR)
Gross dividend 0.48 0.53 0.62 0.71 0.81
Net dividend (9) 0.36 0.40 0.47 0.53 0.61
Net dividend for shares with
a VVPR strip (10) 0.41 0.45 0.53 0.60 0.69
(11)
(11)
(11)
(1) The ratio between the net income – Group share and the weighted average number of shares.
(2) The ratio between the net income – Group share and the weighted average diluted number of shares.
(3) Excluding shares held in treasury stocks.
(4) The ratio between the shareholders’ equity (estimated dividend for the period deducted) and the number of shares (after deduction of treasury shares)
at the end of the period.
(5) Including GBRR – Group share.
(6) Without AFS, CFH reserve and cumulative translation adjustments.
(7) With AFS, CFH reserve and cumulative translation adjustments.
(8) As of January 1, 2005.
(9) After deduction of a 25% Belgian withholding tax.
(10) After deduction of a 15% Belgian withholding tax (as the deduction is reduced to 15% for securities with a VVPR strip).
(11) Proposed dividend; net dividends are rounded for the purpose of this publication.
STOCK MARKET RATIOS
2002 2003 2004 2005 2006
Payout ratio (in %) (1)
- under Dexia GAAP 43.0 42.1 38.7 - -
- under EU GAAP - - 37.6 37.9 34.3
Price-earnings ratio (3) 10.4x 11.0x 10.7x 10.4x 8.3x
Price to book ratio (4) 1.3x 1.5x 1.7x 2.0x 1.8x
Annual yield (in %) (5) 4.1 3.9 3.7 3.6 3.9
(1) The ratio between the total dividend and the net income – Group share.
(2) Based on proposed dividend.
(3) The ratio between the average share price as of December 31 and the earnings per share for the year.
(4) The ratio between the average share price as of December 31 and the net assets per share as of December 31 (related to core shareholders’ equity for
2005 and 2006).
(5) The ratio between the gross dividend per share and the average share price as of December 31.
(2)
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Dexia / Annual Report 2006