In accordance with the Articles of Association, class B shares are preferred for a dividend, which is at least one percent and no more than 2.5 percent higher than the dividend paid to the holders of class A shares, calculated from the accounting par value of the share. The accounting par value of the share is EUR 0.25.
Payment of dividends
For the financial year 2009 a dividend of EUR 1.295 will be paid for each class A share and a dividend of EUR 1.30 will be paid for each class B share. Half of the proposed dividend is extra dividend due to the centennial year 2010 of KONE. The date of record for dividend distribution is proposed to be March 4, 2010 and the dividend be paid March 11, 2010.
| Class B share, EUR |
1.30 |
0.65 |
1.30 |
1.00 |
1.00 |
1.00 |
| Class A share, EUR |
1.295 |
0.645 |
1.29 |
0.99 |
0.99 |
0.99 |
Kone Corporation demerged into two new listed corporations, KONE Corporation and Cargotec Corporation. The demerger was registered in the trade register on 1 June, 2005. Hence, the dividends shown in the table below illustrate the situation that existed before the demerger.
| Class B share, EUR |
2.00 |
2.00 |
1.50 |
0.73 |
0.50 |
| Class A share, EUR |
1.98 |
1.98 |
1.48 |
0.71 |
0.48 |
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Dividend Policy
KONE’s philosophy is to take an aggregated view of share price trends and dividends as components of total shareholder return. The growth in share value can also be influenced by the purchase of own shares. Consequently, KONE does not define a separate dividend policy. Furthermore, no definite capital structure target has been defined.
In the case of dividend distribution, the dividend paid on the class B share is higher than that on the class A share. The difference between the dividends is at minimum one (1) percent and at maximum two-and-a-half (2.5) percent, calculated from the accounting par value of the share. The accounting par value of the share is EUR 0.25.
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