Kemira’s dividend policy aims at paying a competitive and over time increasing dividend.
Annual General Meeting held on March 24, 2021 approved the Board of Directors proposal of EUR 0.58 per share for the financial year 2020.
The dividend will be paid in two installments. The first installment of EUR 0.29 per share will be paid to a shareholder who is registered in the company’s shareholder register maintained by Euroclear Finland Ltd on the record date for the dividend payment, March 26, 2021. The first installment of the dividend will be paid out on April 8, 2021.
The second installment EUR 0.29 per share will be paid in November 2021. The second installment will be paid to a shareholder who is registered in the company’s shareholder register maintained by Euroclear Finland Ltd on the record date for the dividend payment. The Board of Directors will decide the record date and the payment date for the second installment at its meeting in October 2021. The record date is planned to be October 28, 2021, and the dividend payment date November 4, 2021, at the earliest.
Kemira will announce the resolution of the Board of Directors separately and confirm the relevant record and payment dates in such announcement.
Information regarding withholding tax
Information for nominee registered non-resident shareholders:
According to a new guidance given by the Finnish Tax Administration (“FTA”) in March 2020, stricter conditions will be applied to withholding tax rates below 15 % on dividends paid to nominee registered non-resident shareholders. If the withholding tax levied on the dividend has been less than 15 % in the past years based on the applicable double taxation treaty, it is likely that no similar double taxation treaty benefits at source will be received starting 2020 due to the new FTA guidance.
If a nominee registered non-resident shareholder is eligible for a lower withholding tax rate based on a double taxation treaty but a higher withholding tax is levied on the dividend, the shareholder can either apply for a so called quick refund from the custodian bank during the year of the dividend payment or apply for a withholding tax refund from FTA on a year following the dividend payment.
Kemira has paid dividend since its listing (1994).
|||Dividend per share, EUR*||Total, EUR million||Dividend payout ratio, % 1)||Dividend yield, % 2)|
|Tikkurila in 2010*||||599|||||
|GrowHow in 2003**||||161|||||
|Companies as dividends in total||||760|||||
|Dividends in total||||2,078|||||
* In 2010, Tikkurila shares were distributed as a dividend to a total amount of EUR 599.3 million (EUR 3.95 per shares).
** In 2003, GrowHow shares were distributed as a dividend to a total amount of EUR 161 million (EUR 1.34 per shares).
***Dividend has peen prosposed to be paid in two installments of EUR 0.29 on April 8, 2021 and November 4, 2021.
1) Dividend / Earnings per Share or Operative Earnings per Share if available
2) Dividend yield calculated using the share price at the end of respective year
Kemira went over to IFRS reporting as of 1 January 2004.