On 11 February 2010 the Board adopted a new dividend policy. According to the policy total annual dividends paid will be higher than 50 per cent of Group's net profit for the year (excluding extraordinary items). In addition share buy-backs can be used to complement the cash dividend.
The parent company's distributable capital and reserves totaled EUR 6,597,907,788.86, of which profit for the financial year was EUR 710,467,413.51.
The Board proposes to the Annual General Meeting a dividend of EUR 1.15 per share to company's 561,282,390 shares. The dividends to be paid are EUR 645,474,748.50 in total. Rest of funds are left in the equity capital.
The dividend will be paid to shareholders registered in the Register of Shareholders held by Euroclear Finland Ltd as at the record date of 19 April 2011. The Board proposes that the dividend be paid on 28 April 2011.
No significant changes have taken place in the company's financial position since the end of the financial year. The company's liquidity position is good and in the view of the Board, the proposed distribution does not jeopardize the company's ability to fulfill its obligations.
Board of Directors