How it is worked out
Shares today divided by shares a year earlier, less one, as a percentage. Splits are left out.
How to read it
- A fall means the company bought back its own shares: each remaining share stands for a larger slice of the company.
- A rise means new shares, from a capital raise or from shares handed to employees (dilution).
Example
From 1,000 to 970 million shares over the year: a change of −3%.