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.
The Annual General Meeting held on 30 March 2023 resolved to distribute a dividend of €1.08 per share for the year 2022 based on the adopted balance sheet on shares held outside the company at the date of dividend distribution. The dividend will be paid in four equal instalments of €0.27 per share.
The Board was authorised to decide, if necessary, on new dividend payment record dates and pay dates for the second, third and/or fourth instalments, if the rules and statutes of the Finnish book-entry system change or otherwise so require. The remaining distributable assets will remain in equity.
Kesko Corporation's Annual General Meeting 7 April 2022 made a resolution that a dividend of €1.06 per share be paid for the year 2021 based on the adopted balance sheet on shares held outside the Company at the date of dividend distribution. The remaining distributable assets remained in equity. The dividend was paid in four instalments as follows:
Foreign holders of nominee registered shares
Finland has changed the withholding tax laws applicable on dividends paid to holders of nominee registered shares as of 1 January 2021.
In practice this means that withholding tax of 35% will, as a starting point, be levied on Finnish source dividend payments made on nominee registered shares held by non-Finnish tax residents. However, a lower withholding tax rate may be applied, if a custodian has registered with the Tax Administration’s Public Register of Authorised Intermediaries and has advised of a lower withholding based on the required additional information collected by them.
It is possible to apply for a reclaim from the Finnish Tax Administration of any tax withheld in excess of the applicable withholding tax rate (e.g. applicable tax treaty rate). The reclaim can be made after the year of the dividend payment. Reclaim application can be submitted to the Finnish Tax Administration either on paper (form for corporate entities here, and for individuals here) or electronically.
You may also be able to receive a refund already during the year of dividend payment via your registered custodian. Please contact your custodian for further information on the so called quick refund procedure.
Additional information on withholding tax reclaims can be obtained from the Finnish Tax Administration either:
Please note that Kesko does not process applications for withholding tax reclaims nor respond to enquiries regarding withholding taxes.
Finnish holders of nominee registered shares
Dividends paid to Finnish tax resident holders of nominee registered shares may as of 2020 have been subject to withholding of 50% tax prepayment (ennakonpidätys). Any excess tax prepayment is credited in the normal tax assessment process, where the shareholder reports their dividend income to the Finnish Tax Administration.