Authorised share capital
The authorised share capital of Kendrion N.V. as at 31 December 2020 amounts to EUR 80,000,000 and is divided into 40,000,000 ordinary shares with a nominal value of EUR 2.00 each. At year-end 2020, the total number of ordinary shares issued was 14,933,984. There is one class of ordinary shares and no depositary receipts for shares have been issued. Kendrion’s ordinary shares are listed on NYSE Euronext Amsterdam Small Cap Index (AScX).
| Movements in the number of outstanding shares | Shares entitled to dividend | Shares owned by Kendrion | Total number of issued shares |
| At 1 January 2020 | 14,753,533 | 180,451 | 14,933,984 |
| Issued registered shares (share plan) | 2,654 | (2,654) | - |
| Delivered shares | 10,294 | (10,294) | - |
| At 31 December 2020 | 14,766,481 | 167,503 | 14,933,984 |
Dividend Policy
Kendrion endeavours to realise an attractive return for shareholders supported by a suitable dividend policy. In view of safeguarding a healthy financial position, consideration is also given to the amount of profit to be retained to support the company’s medium and long-term strategic plans and to maintaining a solvency ratio of at least 35%. Kendrion strives to distribute dividends representing between 35% and 50% of its net profit.
In principle, Kendrion offers shareholders an opportunity to opt for dividends in cash or in the form of ordinary shares in Kendrion N.V.’s capital.
In the Annual general Meeting of Shareholders held on 12 April 2021, the dividend over 2020 was approved at EUR 0.40 per share, representing a payment of dividend of 50% of normalised net profit for 2020. The total amount of dividend is EUR 5.9 million. The payment of the dividend has been made in cash, or at the option of shareholders, in the form of ordinary shares charged to the share premium reserve with any remaining fraction settled in cash.
Share Buyback Programme
Share buyback programme cancelled
On 5 November 2019 we cancelled our share buyback programme of 625,000 shares. See announcements THIRD QUATER RESULTS 2019 and INTORQ ACQUISITION.
Up to 4 November 2019, 235,592 shares have been repurchased for a total amount of EUR 4.2 million. Repurchased shares were not cancelled. An overview of all transactions is provided below.
Major Shareholders
In line with legislation, shares transactions of the members of our Executive Board have been reported to the Financial Markets Authority (AFM). This information can be consulted on the AFM's website (www.afm.nl).
Pursuant to the Netherlands Financial Supervision Act, we are aware, on the basis of the information in the registers of the Netherlands Authority for the Financial Markets (AFM), that the following shareholders possessed an interest of more than 3% on 18 May 2021:
| Shareholder | Interest in % | Date of report |
| Teslin Participaties Coöperatief U.A. | 15.14 | At 14 June 2019 |
| Kempen Capital Management N.V. | 10.07 | At 26 May 2020 |
| Cross Options Beheer B.V. | 5.37 | At 8 May 2017 |
| T. Rowe Price Group, Inc. | 4.97 | At 5 May 2017 |
| FIL Limited | 6.84 | At 18 May 2021 |
| Invesco Limited | 5.42 | At 15 May 2020 |
| Midlin N.V. | 3.08 | At 11 December 2020 |
| Total | 50.89% |