Mar 30, 2022

Nokian Tyres Lowers Dividend Amidst the War in Ukraine

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.

Source: Nokian Tyres

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