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 (1:1).
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 Board of Directors proposes that for the financial year 2019 a dividend of EUR 1.6975 is paid for each class A share and a dividend of EUR 1.70 is paid for each class B share. The date of record for dividend distribution is proposed to be 27 February 2020 and the dividend is proposed to be paid on 5 March 2020.
| CLASS A SHARE, EUR
| CLASS B SHARE, EUR
| |
| 2019
| 1.6975*** | 1.70*** |
| 2018
| 1.6475 | 1.65 |
| 2017
| 1.6475 | 1.65 |
| 2016
| 1.5475 | 1.55 |
| 2015
| 1.3975 | 1.40 |
| 2014
| 1.1975 | 1.20 |
| 2013
| 0.9975 | 1.00 |
| 2012
| 0.8725
0.6475* | 0.875
0.65* |
| 2011
| 0.6975
0.7475* | 0.70
0.75* |
| 2010
| 0.4475 | 0.45 |
| 2009
| 0.6475** | 0.65** |
| 2008
| 0.3225 | 0.325 |
| 2007
| 0.3225 | 0.325 |
| 2006
| 0.2475 | 0.25 |
| 2005 | 0.2475 | 0.25 |
|
*) Extra dividend
**) A double dividend was paid for the financial year 2009 ***) Board's proposal |
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.
| CLASS A SHARE, EUR | CLASS B SHARE, EUR | |
| 1/2004-3/2005
| 1.98 | 2.00 |
| 2003
| 1.98 | 2.00 |
| 2002
| 1.48 | 1.50 |
| 2001
| 0.71 | 0.73 |
| 2000
| 0.48 | 0.50 |
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.