Subjects: DIV, ACC
Stora Enso's New Dividend Proposal and Annual General Meeting Date
STORA ENSO OYJ INSIDER INFORMATION 21 April 2020 at 8:30 EEST
Stora Enso Oyj's Board of Directors has changed its dividend proposal
HELSINKI, April 21, 2020 /PRNewswire/ -- The Board of Directors of Stora Enso Oyj has decided to convene the Annual General Meeting to be held on 4 June 2020. Stora Enso aims at conducting the meeting in accordance with a proposal for a temporary legislation given by the Finnish Government, which would enable to hold the meeting by remote participation during the Covid-19 pandemic. The Notice to convene the Annual General Meeting will be published as soon as practically possible.
Due to the unprecedented situation caused by the Covid-19 pandemic and its impact on trading conditions, the Board of Directors has decided to change its dividend proposal to the Annual General Meeting and proposes that a dividend of EUR 0.15 per share be distributed for the year 2019. The dividend is planned to be paid on or about 15 June 2020. In addition, it is proposed that the Annual General Meeting would authorise the Board of Directors to decide at its discretion on the payment of dividend up to a maximum of EUR 0.35 per share to be distributed in one or several instalments at a later stage when it is possible to make a more reliable estimate on the impacts of the Covid-19 pandemic on Stora Enso's business and liquidity. The authorisation would be valid until the next Annual General Meeting.
As communicated earlier, Stora Enso canceled its Annual General Meeting on Thursday 19 March 2020 based on the development of the Covid-19 pandemic and the announcements by the Finnish Government.
For further information, please contact:
Ulrika Lilja
EVP, Communications
tel. +46 72 221 9228
Investor enquiries:
Ulla Paajanen
SVP, Investor Relations
tel. +358 40 763 8767
Part of the bioeconomy, Stora Enso is a leading global provider of renewable solutions in packaging, biomaterials, wooden constructions and paper. We believe that everything that is made from fossil-based materials today can be made from a tree tomorrow. Stora Enso has some 25 000 employees in over 30 countries. Our sales in 2019 were EUR 10.1 billion. Stora Enso shares are listed on Nasdaq Helsinki (STEAV, STERV) and Nasdaq Stockholm (STE A, STE R). In addition, the shares are traded in the USA as ADRs (SEOAY). storaenso.com
For further information, please contact:
Ulrika Lilja
EVP, Communications
tel. +46 72 221 9228
Investor enquiries:
Ulla Paajanen
SVP, Investor Relations
tel. +358 40 763 8767
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