Nokian Tyres plc: Board of Directors changes the proposal to the AGM regarding the dividend payment, preparations for new capacity in Europe starting
Nokian Tyres plc, Inside information, March 30, 2022 at 3:40 p.m.
The war in Ukraine has caused high uncertainty related to Nokian Tyres plc’s (“Nokian Tyres”) operational environment and manufacturing capacity. Consequently, the company starts to expedite its plans to invest in new production capacity in Europe. Therefore, the Board of Directors of Nokian Tyres has decided to change its dividend proposal to the Annual General Meeting to be held on April 28, 2022. The company continues to increase capacity at its factories in Finland and the US.
The Board of Directors proposes that a dividend of EUR 0.55 per share be paid from the financial year January 1–December 31, 2021, i.e. approximately EUR 76.1 million in total based on the total number of outstanding shares of Nokian Tyres at the time of the proposal. The proposed dividend corresponds to the minority dividend pursuant to Chapter 13, Section 7 of the Finnish Companies Act, i.e. eight per cent of the shareholders’ equity.
The dividend is proposed to be paid to the shareholders who are registered in the company’s shareholder register maintained by Euroclear Finland Oy on the dividend record date of May 2, 2022. The payment date proposed by the Board of Directors is May 11, 2022.
The Board of Directors’ earlier dividend proposal from the financial year January 1–December 31, 2021 announced on February 8, 2022 was EUR 1.32 per share payable in two instalments.
According to the financial statements for the financial year January 1–December 31, 2021, the distributable funds of Nokian Tyres amounted to EUR 742.7 million.
Nokian Tyres plc
Board of Directors
Further information:
Päivi Antola, tel. +358 10 401 7327
SVP, Corporate Communications and Investor Relations
Investor relations:
IR@nokiantyres.com
Media enquiries:
media@nokiantyres.com
Distribution: Nasdaq Helsinki, media and www.nokiantyres.com
Nokian Tyres develops and manufactures premium tires for people who value safety, sustainability and predictability. Our purpose is to empower the world to drive smarter. Inspired by our Scandinavian heritage, we craft innovative products for passenger cars, trucks and heavy machinery that give you peace of mind in all driving conditions. Our Vianor chain provides tire and car services. In 2021, the company’s net sales were EUR 1.7 billion and it employed some 4,900 people. Nokian Tyres is listed on Nasdaq Helsinki. Further information: www.nokiantyres.com