22 Equity and earnings per share
Share and participation capital
| Number | Capital in CHF | |||
|---|---|---|---|---|
| Registered shares, nominal value CHF 0.10 | 67 077 452 | 6 707 745 | ||
| Participation certificates, nominal value CHF 0.10 | 40 716 831 | 4 071 683 | ||
| Total | 107 794 283 | 10 779 428 |
There were no changes in the share and participation capital compared to the previous year.
Each participation certificate carries the right to a share of retained earnings, and to a share of the proceeds of liquidation, corresponding to its nominal value. It does not, however, carry any voting rights or any other rights of membership, such as participation in General Meetings of Shareholders.
Earnings per share
| 2021 | 2020 | |||
|---|---|---|---|---|
| Number of shares and participation certificates | 107 794 283 | 107 794 283 | ||
| Average number of treasury shares | –198 502 | –323 783 | ||
| Basic average number of outstanding shares | 107 595 781 | 107 470 500 | ||
| Share-based payment plans | 147 402 | 165 866 | ||
| Diluted average number of outstanding shares | 107 743 183 | 107 636 366 | ||
| Net profit attributable to Schindler shareholders in CHF million | 828 | 722 | ||
| Basic earnings per share in CHF | 7.70 | 6.72 | ||
| Diluted earnings per share in CHF | 7.68 | 6.71 |
Shares include registered shares and participation certificates.
Dividends
In 2021, CHF 430 million was paid in dividends (previous year: CHF 430 million). This corresponds to an ordinary dividend of CHF 4.00 per registered share and per participation certificate (previous year: ordinary dividend of CHF 4.00).
The Board of Directors proposes to the General Meeting of Shareholders the payment of an ordinary dividend of CHF 4.00 per share and participation certificate for the reporting year 2021. This represents a total gross dividend payment of CHF 431 million. The dividend payment will be recognized in equity in the period in which the distribution is approved by the General Meeting of Shareholders.
Treasury shares
Treasury shares comprise registered shares and participation certificates of Schindler Holding Ltd. They are reported as a deduction from equity and are measured at acquisition costs.
There is no subsequent remeasurement of treasury shares. Gains and losses from the sale of treasury shares are recognized in equity.
| Registered shares | Participation certificates | |||||||
|---|---|---|---|---|---|---|---|---|
| In CHF million | Number | Value | Number | Value | ||||
| January 1, 2020 | 328 508 | 65 | 52 034 | 5 | ||||
| Purchases | 70 312 | 14 | – | – | ||||
| Disposals | – | – | –3 608 | –1 | ||||
| Share-based payments | ||||||||
| Allocation of shares | –76 122 | –16 | – | – | ||||
| Exercise of PSUs and options | –56 079 | –9 | –28 010 | –2 | ||||
| Difference in value | –2 | – | ||||||
| December 31, 2020 | 266 619 | 52 | 20 416 | 2 | ||||
| Disposals | – | – | –1 361 | – | ||||
| Share-based payments | ||||||||
| Allocation of shares | –54 003 | –14 | – | – | ||||
| Exercise of PSUs and options | –61 607 | –11 | –19 055 | –2 | ||||
| Difference in value | 2 | – | ||||||
| December 31, 2021 | 151 009 | 29 | – | – | ||||
Treasury shares are used for the Group’s share-based payment plans, refer to note 6.3.
Other reserves
Other reserves comprise cash flow hedge reserves of CHF 6 million (previous year: CHF 1 million) and the share of OCI from associates amounting to CHF –1 million (previous year: CHF –1 million).