Note 20 Shareholders' equity

Group

Other contributed capital

Refers to equity contributed by shareholders.

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  Group
Reserves 1) 2015/2016 2014/2015
Foreign currency translation reserve    
Opening translation reserve -19 -44
Translation effect for the year -57 25
Closing translation reserve -76 -19
Hedging reserve 2)    
Opening hedging reserve 1 0
Revaluations recognised via other comprehensive income -1 4
Recognised in profit or loss upon disposal (other operating income/expenses) -2 -3
Taxes attributable to the year’s revaluations 0 -1
Taxes attributable to disposals 1 1
Closing hedging reserve -1 1
Total reserves -77 -18
 1) Refers to reserves attributable to equity holders of the Parent Company.
 2) Relates to cash flow hedges, consisting of currency clauses in customer contacts.

Foreign currency translation reserve

The translation reserve includes all exchange differences that arise in translating financial reports of foreign operations prepared in a currency other than the Group's presentation currency for financial reports. The Parent Company and Group present their financial reports in Swedish kronor (SEK).

Hedging reserve

The hedging reserve includes the effective portion of the accumulated net change in fair value for a cash-flow hedging instrument attributable to hedge transactions that have not yet occurred.

Retained earnings, including profit for the year

Retained earnings including profit for the year include earnings in the Parent Company and its subsidiaries. Prior provisions to the legal reserve are included in this equity item.

Repurchased shares

Repurchased shares includes the acquisition cost of own shares held in treasury by the Parent Company (known as treasury shares). At the end of the reporting period, the Group's holding of treasury shares was 1,240,000 (1,742,300). 

Dividend

After the reporting period, the Board of Directors proposed a dividend of SEK 3.25 per share. The dividend is subject to approval by the Annual General Meeting on 31 August 2016.

Parent Company

Restricted reserves

Restricted reserves are funds that cannot be paid out as dividends.

Statutory reserve

The purpose of the statutory reserve is to save a portion of net profit that will not be used to cover a loss carried forward.

Retained earnings

Retained earnings comprises the previous year's unrestricted equity, less any provision to the statutory reserve and less any dividend paid. Together with profit for the year and any fair value reserve, retained earnings constitute the sum of unrestricted equity, that is, the amount available to be paid as dividends to shareholders.

Number of shares

The number of shares at 31 March 2016 consisted of 3,237,672 Class A shares, entitling the holders to 10 votes per share, and 64,960,824 Class B shares, entitling the holders to one vote per share. The quotient value of the share is SEK 0.75. The Company has repurchased 1,240,000 Class B shares, in the framework of the Company's ongoing repurchase programme. After subtracting repurchased shares, the number of Class B shares is 63,720,824.

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Number of shares outstanding 2016-03-31 Class A shares Class B shares All share classes
At start of year 3,241,704 63,214,492 66,456,196
Exercised call options 852,300 852,300
Repurchase of treasury shares -350,000 -350,000
Conversion of Class A shares to Class B shares -4,032 4,032
At year-end 3,237,672 63,720,824 66,958,496
       
Number of shares outstanding 2015-03-31 Class A shares Class B shares All share classes
At start of year 3,253,800 62,881,296 66,135,096
Exercised call options 671,100 671,100
Repurchase of treasury shares -350,000 -350,000
Conversion of Class A shares to Class B shares -12,096 12,096
At year-end 3,241,704 63,214,492 66,456,196