Dividend

Dividend policy

Kemira’s dividend policy aims at paying a stable and competitive dividend.

Dividend payment

Kemira’s Annual General  has been held on Tuesday, May 5, 2020 at Kämp Symposion. Annual General Meeting decided to authorize the Board of Directors to decide, in its discretion, upon the payment of a dividend in the maximum amount of EUR 0.56 per share.

On May 5, the Board of Directors of Kemira Oyj has  decided, on the basis of the authorization by the Annual General Meeting 2020, on the payment of the first installment of the dividend of EUR 0.28 per share. The payment day of the first installment of the dividend is  May 14, 2020. Preliminary record date and preliminary payment date for the second installment are October 29, 2020 and November 5, 2020. Kemira will announce the Board of Director’s resolution on the second dividend installment separately and confirm the relevant record and payment dates in such announcements.

The dividend payment authorization is valid until the end of the next Annual General Meeting. The authorization would be used to pay dividend in two installments during the validity of the authorization, unless the Board of Directors decides otherwise for a justified reason.

*Dividend will be paid in two installments subject to Board decision. The payment day for the first installment EUR 0.28 is May 14.  Preliminary record date and preliminary payment date for the second installment are October 29, 2020 and November 5, 2020.

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)
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
979
Tikkurila in 2010* 599
GrowHow in 2003** 161
Companies as dividends in total 760
Dividends in total 1,739

* 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 will be paid in two installments subject to Board decision. The first installment of the dividend, EUR 0.28, has been paid on May 14. BoD will decide on the payment of the second dividend installment of EUR 0.28 separately.

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.

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