Dividend policy
Kemira’s dividend policy aims at paying a competitive and over time increasing dividend.
Dividend payment
The Board of Directors proposes to the Annual General Meeting that a dividend of EUR 0.62 per share be paid based on the adopted balance sheet for the financial year which ended on December 31, 2022.
The dividend will be paid in two installments. The first installment of EUR 0.31 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 24, 2023. The Board of Directors proposes that the first installment of the dividend be paid out on April 5, 2023.
The second installment EUR 0.31 per share will be paid in November 2023. 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 2023. The record date is planned to be October 26, 2023, and the dividend payment date November 2, 2023, at the earliest.
Stock Exchange Release of the invitation to the AGM announced on February 10, 2023
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.
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).
*** BoD’s proposal to the Annual General Meeting 2023; Dividend to be paid in two installments of EUR 0.31 on April 5, 2023 and the second payment of the dividend in November 2, 2023, at the earliest
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.