Dividend policy
Kemira’s dividend policy aims at paying a competitive and over time increasing dividend.
Dividend payment
Annual General Meeting approved the Board of Directors’ proposal of EUR 0.62 per share for the financial year 2022.
The dividend is paid in two installments. The first installment of EUR 0.31 per share has been paid to a shareholder who was registered in the company’s shareholder register maintained by Euroclear Finland Ltd on the record date for the dividend payment, March 24, 2023. The first installment of the dividend was paid out on April 5, 2023.
The second installment has been 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 decided the record date and the payment date for the second installment at its meeting on October 23, 2023. The record date decided to be October 26, 2023, and the dividend payment date November 2, 2023.
Kemira announced the resolution of the Board of Directors separately.
October 24, 2023: Stock Exchange Release of record and dividend payment days.
March 20, 2023: Stock Exchange Release of AGM decisions.
Information regarding withholding tax
Information for nominee registered non-resident shareholders:
According to a guidance given by the Finnish Tax Administration (“FTA”), stricter conditions are applied to withholding tax rates on dividends paid to nominee registered non-resident shareholders.
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.
Link to new FTA guidance on nominee registered shareholders’ withholding taxation
Link to FTA guidance and forms on withholding tax refunds (individuals)
History
Kemira has paid dividend since its listing (1994).
| | Dividend per share, EUR* | Total, EUR million | Dividend payout ratio, % 1) | Dividend yield, % 2) |
|---|---|---|---|---|
| 2022 | 0.62*** | 95*** | 41 | 4.3 |
| 2021 | 0.58 | 89 | 83 | 4.4 |
| 2020 | 0.58 | 89 | 67 | 4.5 |
| 2019 | 0.56 | 85 | 79 | 4.2 |
| 2018 | 0.53 | 81 | 91 | 5.4 |
| 2017 | 0.53 | 81 | 102 | 4.6 |
| 2016 | 0.53 | 81 | 88 | 4.4 |
| 2015 | 0.53 | 81 | 84 | 4.9 |
| 2014 | 0.53 | 81 | 84 | 5.4 |
| 2013 | 0.53 | 81 | 76 | 4.4 |
| 2012 | 0.53 | 81 | 69 | 4.5 |
| 2011 | 0.53 | 81 | 59 | 5.8 |
| 2010 | 0.48** | 73 | 61 | 4.1 |
| 2009 | 0.27 | 41 | 37 | 2.6 |
| 2008 | 0.25 | 30 | 86 | 4.2 |
| 2007 | 0.50 | 61 | 95 | 3.5 |
| 2006 | 0.48 | 58 | 50 | 2.8 |
| 2005 | 0.36 | 44 | 49 | 2.7 |
| 2004 | 0.34 | 41 | 53 | 3.4 |
| 2003 | 0.33* | 39 | 52 | 3.6 |
| 2002 | 0.30 | 36 | 49 | 4.6 |
| 2001 | 0.30 | 36 | 52 | 4.5 |
| 2000 | 0.30 | 37 | 18 | 5.6 |
| Cash dividends in total |
1,502 | | | |
| Tikkurila in 2010** | | 599 | | |
| GrowHow in 2003* | | 161 | | |
| Companies as dividends in total | | 760 | | |
| Dividends in total | | 2,262 | | |
* In 2003, GrowHow shares were distributed as a dividend to a total amount of EUR 161 million (EUR 1.34 per shares).
** In 2010, Tikkurila shares were distributed as a dividend to a total amount of EUR 599.3 million (EUR 3.95 per shares).
*** Dividend paid in two installments of EUR 0.31 on April 5, 2023 and the second payment of the dividend in November 2, 2023.
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.