Listing

On 9 April 1999 the shares of VPK Packaging Group NV were listed on the Cash Market, double fixing of the Brussels stock exchange, at a rate of 29 EUR.
Since 24 March 2000 the shares have been traded on the Continuous Market.

Brussels Stock Exchange and the VPK share price in 2010

The price of the VPK share recorded a rise by 18,4% over the entire year 2010. That way, the closing price of December 2009 was 23.85 EUR, while it amounted to 28.25 EUR at the end of December 2010. The recovery of the VPK share, initiated as from the last quarter of 2009, thus continued in 2010. It outperformed the return on the Bel-20 index. For comparison, the Bel-20 only increased by 2.7% in the course of 2010. 

During 2010 the minimum level of the share price of the VPK share was recorded at the beginning of the stock exchange year on 5 January (23.75 EUR). A first share price peak was reached on 22 January when the share was traded at 28.39 EUR. During the remainder of the first half-year the share fluctuated within a spread of 25 EUR and 28.0 EUR. As from June the price further increased to reach its maximum for the year on 16 July (30.0 EUR). In the following months the share further fluctuated within a spread of 28.0 EUR and 30.0 EUR. In the second half of November the share price recorded a downturn, recovering as from the beginning of December to close at 28.25 EUR on 31 December.

End-2010 the market capitalisation amounted to 247.8 million EUR compared to 209.2 million EUR at the end of 2009.

Dividend

Since its stock market launch, VPK Packaging Group NV has adopted a consistent dividend policy that aims to foster both a sound financial policy and appropriate reward for shareholders. This is dependent on circumstances and the company’s results, all in comparison with other companies listed on Euronext Brussels.

In 2009 a dividend of 0.75 EUR per share was distributed for ordinary shares. Consistent with the aforementioned policy and taken into account the strong results and financially strong balance sheet, the board of directors proposes, with regard to the financial year 2010, to fix the gross dividend at 0.83 EUR per share, or net 0.62 EUR for ordinary shares (after deduction of 25.0% withholding tax), and net 0.71 EUR for VVPR shares (after deduction of 15.0% withholding tax). This represents a growth by 10.7% compared to the dividend distributed the previous year over 2009 (0.75 EUR). The payout ratio amounts to 35.2% compared to 25.1% over 2009.

The dividend will be payable as from 18 May 2011. This enables the company to resume its dividend policy of increasing the dividend each year, in the absence of exceptional circumstances. 

Purchase of own shares

In 2010 43,694 treasury shares were purchased in accordance with the articles of assocation and company law rules, by a subsidiary of VPK Packaging Group NV. On 31 December 2010 we held a total 649,903 treasury shares in portfolio (compared to 606,209 on 31 December 2009).