Attributable to shareholders in the company
Common stock Treasury stock Currency translation adjustments Cash flow hedges Retained earnings Minority interests Total
  DKK million DKK million DKK million DKK million DKK million DKK million DKK million
Shareholders' equity at January 1, 2011 650  (1,479) 391  149  8,113  12  7,836 
Net profit for the year 1,828  1,828 
Other comprehensive income for the year 107  (182) (72)
Purchase of treasury stock (400) (400)
Sale of treasury stock 165  165 
Dividend (504) (504)
Stock-based payment 83  83 
Tax related to equity items         (112)   (112)
Changes in shareholders' equity   -  (235) 107  (182) 1,295  988 
Shareholders' equity at December 31, 2011 650  (1,714) 498  (33) 9,408  15  8,824 
Shareholders' equity at January 1, 2010 650  (1,624) (49) 203  6,651  10  5,841 
Net profit for the year 1,614  1,614 
Other comprehensive income for the year 440  (54) 388 
Sale of treasury stock 145  145 
Dividend (359) (359)
Stock-based payment 60  60 
Tax related to equity items         147    147 
Changes in shareholders' equity   -  145  440  (54) 1,462  1,995 
Shareholders' equity at December 31, 2010 650  (1,479) 391  149  8,113  12  7,836 
The proposed dividend of DKK 599 million for 2011 is included in Retained earnings.
Reference is made to Note 20 concerning treasury stock and average number of shares.