Hydro's share price closed at NOK 42.61 at the end of 2010. The return for 2010 was negative with NOK 6.10, or 12.5 percent. Hydro's Board of Directors proposes to pay a dividend of NOK 0.75 per share for 2010, for approval by the Annual General Meeting on May 5, 2011, reflecting the company's strong commitment to provide a cash return to its shareholders. The decision is based on improved earnings and market outlook as well as Hydro's strong financial position and cash generation capabilities.
Hydro successfully completed a rights issue in July 2010, issuing 381,053,600 new shares. A total of 513,284,736 subscriptions for shares were received and the rights issue was consequently oversubscribed by 34.7 percent. The rights issue resulted in gross proceeds of approximately NOK 10,022 million.
There were 1,587,776,741 outstanding shares at the end of 2010. A total of 2.7 billion Hydro shares were traded on the Oslo Stock Exchange during 2010, representing 5.6 percent of the total turnover on the exchange in terms of share value.
At the closing of the acquisition of Vale's aluminium assets on February 28, 2011, Hydro issued 447,834,465 new shares to Vale as part of the consideration in the transaction. The number of outstanding shares subsequently increased to 2,035,611,206.
Hydro's shares are also listed in London while our American Depositary Shares (ADSs) trade on OTCQX International in the US, the premium over-the-counter market tier on PinkSheets.