Fiskars' aim is to distribute a stable, over time increasing dividend, to be paid biannually.
A cash dividend of EUR 0.27 per share was paid to a shareholder who was registered in the shareholders’ register of the company maintained by Euroclear Finland Ltd on the dividend record date March 15, 2019. The payment date for the dividend was March 22, 2019.
In addition, the Annual General Meeting resolved to authorize the Board of Directors to resolve, in its discretion, on the distribution of an additional cash dividend. The maximum amount of dividend to be distributed based on this authorization shall not exceed EUR 0.27 per share. The Board of Directors is authorized to resolve on all other terms concerning the additional cash dividend. The Board of Directors expects to resolve on the additional cash dividend of EUR 0.27, subject to the authorization, in its meeting scheduled for September 5, 2019. Assuming that the resolution is made by the Board of Directors on that date, the dividend record date would be September 9, 2019 and the payment date would be September 16, 2019.
In addition to the cash dividend, the Board of Directors is authorized to resolve on the distribution of a share dividend. The Board of Directors is authorized to distribute up to 32,645,343 shares in Wärtsilä Corporation held by the company, being the total amount of Wärtsilä shares currently held by the company.
A shareholder receives 2 Wärtsilä shares for each 5 shares held in the company. Fractional entitlements to Wärtsilä shares resulting from the distribution ratio will not be distributed in the form of shares, but an equivalent amount will be compensated to shareholders in cash. The Board of Directors are authorized to resolve on all other terms and practicalities for effecting the payment of the cash compensation for fractional entitlements. The value of the share dividend will be equivalent to the market value at the time of the distribution of the company’s Wärtsilä shares to be distributed. The cash compensation amount, being equivalent to the value of the shareholder’s fractional entitlement, will be based on the taxable value of the share dividend, expected to be calculated based on the volume weighted average price of Wärtsilä’s share on the date when the share dividend is withdrawable.
Furthermore, the company will pay the transfer tax resulting from the distribution of the share dividend on behalf of shareholders. The transfer tax amounts to 1.6% of the value of the share dividend. The Board of Directors are authorized to resolve upon any and all other matters, relating to the distribution of the share dividend including, without limitation, technical adjustments and changes that may be required for effecting the distribution of the share dividend.
The Board of Directors currently expects to resolve on the share dividend distribution, subject to the authorization, in its meeting scheduled for June 6, 2019. Assuming that the resolution is made by the Board of Directors on that date, the dividend record date for the share dividend will be June 10, 2019 and the share dividend payment date June 11, 2019. The payment date for the fractional entitlements to be paid in cash will be June 17, 2019. Any changes to the currently expected timing or structure will be separately announced by the company.
Dividends per share
|Second dividend, EUR||0.27*||0.36||0.35|
|Extra dividend, EUR||**||2.60||0.75||1.30|
|Total, EUR million||**||58.8||86.6||57.3||55.7||267.8||53.2||112.2||155.6||42.6|
*Authorization for the Board of Directors’ to decide
**Authorization to distribute Wärtsilä shareholding as an extra dividend. The market value of the Wärtsilä shares at the date of distribution (currently expected in June) will be decisive when calculating the final value of the dividend
Historical dividends per share, adjusted for bonus issue
Series A shares were entitled to a dividend of at least two percentage points higher than shares of series K shares. The share series were combined in 2009. Now all shares have equal rights.