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DIVIDENDS AND SPLITS

Splits
Since 1999, the KONE share has been split five times: 1999 (1:3), 2002 (1:3), 2005 (1:2), 2008 (1:2) and 2013 (1:2).

Dividends
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 0.125.

Payment of dividends

The Annual General Meeting proposed to the Annual General Meeting that a dividend of EUR 1.5475 will be paid for each class A share and EUR 1.55 for each class B-share. All shares existing on the dividend record date, March 2, 2017 were entitled to the dividend. The dividend was paid March 9, 2017.

Dividend2016
201520142013201220112010
Class B share, EUR 1.55
1.40
1.201.000.875
0.65*
0.70
0.75*
0.45
Class A share, EUR 1.5475
1.39751.19750.99750.8725
0.6475*
0.6975
0.7475*
0.4475
*) Extra dividend
**) A double dividend was paid for the financial year 2009

Dividend20092008200720062005
Class B share, EUR0.65**0.3250.3250.250.25
Class A share, EUR0.6475**0.32250.32250.24750.2475
*) Extra dividend
**) A double dividend was paid for the financial year 2009

In the table above for 2012-2005 the figures have been adjusted taking into account the share issue without payment (split) taking effect on December 5, 2013. In addition, for 2007-2005 the figures have been adjusted taking into account the share issue without payment (split) on February 28, 2008.

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.

Dividend1/2004-3/20052003200220012000
Class B share, EUR2.002.001.500.730.50
Class A share, EUR1.981.981.480.710.48

Dividend Policy

KONE has not defined a specific target for dividends or share buy-backs. The dividend proposal by the Board of Directors is determined on the basis of the overall business outlook, business opportunities, as well as the present capital structure and the anticipated changes in it.

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 0.125.