Decisions of UPM-Kymmene Corporation’s Annual General Meeting

UPM-Kymmene Corporation        Stock Exchange Release (Decisions of general meeting)        4 April 2024 at 14:50 EEST

Decisions of UPM-Kymmene Corporation’s Annual General Meeting

The Annual General Meeting (AGM) of UPM-Kymmene Corporation took place in Helsinki, Finland, today, 4 April 2024. 

The AGM adopted the Company’s Financial Statements 2023 and resolved on a dividend of EUR 1.50 per share for the year 2023. The dividend is paid in two instalments. The AGM adopted the Remuneration Report and Remuneration Policy for governing bodies, elected the auditor for the financial year 2025, and authorised the Board of Directors to decide on the issuance of new shares and special rights entitling to shares, repurchase of the Company’s own shares and charitable contributions. Melanie Maas-Brunner was elected as new director to the Board. Emma FitzGerald stepped down from the Board.

Financial Statements and dividend

The AGM adopted the Company’s Financial Statements and discharged the members of the Board of Directors and the President and CEO from liability for the financial period 1 January–31 December 2023. A dividend of EUR 1.50 per share is paid, as proposed by the Board of Directors. The dividend is paid in two instalments. The first dividend instalment, EUR 0.75 per share, is paid to shareholders registered in the Company’s register of shareholders maintained by Euroclear Finland Oy on the record date for the first dividend instalment on 8 April 2024. The payment date for the first dividend instalment is on 16 April 2024. The second dividend instalment, EUR 0.75 per share, is paid to shareholders registered in the Company's register of shareholders maintained by Euroclear Finland Oy on the record date for the second dividend instalment 31 October 2024. The payment date for the second dividend instalment is on 7 November 2024.

Composition of the Board of Directors

The number of members of the Board of Directors was confirmed as nine, and Henrik Ehrnrooth, Pia Aaltonen-Forsell, Jari Gustafsson, Piia-Noora Kauppi, Topi Manner, Marjan Oudeman, Martin à Porta and Kim Wahl were re-elected to the Board. Melanie Maas-Brunner was elected as a new director to the Board. The directors’ term of office will end upon the closure of the next AGM.