In the long-term, Kesko aims to distribute a steadily growing dividend of some 60-100% of its comparable earnings per share, taking into account the company’s financial position and strategy. Kesko plans to pay its dividends in two instalments, starting with the dividend paid for the year 2018.
Kesko Corporation's Annual General Meeting 28 April 2020 made a resolution that based on the adopted balance sheet, a dividend of €2.52 per share be paid for the year 2019 on shares held outside the Company at the date of dividend distribution. The remaining distributable assets remains in equity. The dividend it to be paid in two instalments.
The first instalment, €1.28 per share, is to be paid to shareholders registered in the Company's register of shareholders kept by Euroclear Finland Ltd on the first dividend instalment payment record date 30 April 2020. The first dividend instalment pay date is 8 May 2020.
The second instalment is to be paid to shareholders registered in the Company's register of shareholders kept by Euroclear Finland Ltd on the second dividend instalment payment record date, 1 October 2020. As the Annual General meeting approved the Board's proposal concerning a share issue without payment, the second instalment will be divided between one current and three new shares, so that a dividend of €0.31 per share is paid on each share. The second dividend instalment pay date will be 8 October 2020. The Board is authorised to decide, if necessary, on a new dividend payment record date and pay date for the second instalment if the rules and statutes of the Finnish book-entry system change or otherwise so require.
Information on the taxation of the dividends can be found on the Finnish Tax Administration's website. Information on the taxation of dividends paid on nominee-registered shares and information on the quick refund process can be found here.