1. What is the difference between A shares and R shares?
2. What does conversion of A shares into R shares mean?
3. When and how will the dividend be paid?
4. How much dividend was paid for the previous year and when?
5. What are ADRs and who holds them?
6. Who can attend the Shareholders’ Meeting?
7. What is meant by closed period?
8. How international is Stora Enso's shareholder base?
9. Do the trading volumes on different stock exchanges reflect local ownership?
10. Does Stora Enso have a share buy-back programme?
11. How many analysts monitor Stora Enso?
12. When and where will the next AGM be held?
13. Who are the largest shareholders in Stora Enso?
14. What is the free float of Stora Enso shares?
15. When does your fiscal year end?
16. When do you announce your financial results?
1. What is the difference between A shares and R shares?
The difference between A and R shares is in their voting rights. One A share entitles its shareholder to one vote, whereas ten R shares are needed for one vote. Each shareholder is though entitled to at least one vote. The same dividend is paid to both A and R shares.
More about shares
2. What does conversion of A shares into R shares mean?
Conversion of A shares into R shares is voluntary: shares will be converted only upon the request of a shareholder or, if the shares are registered in the name of a nominee, upon the request of the nominee entered in the book-entry register. Shareholders who do not want to convert their A shares into R shares do not have to take any action.
Conversion schedule and forms
3. When and how will the dividend be paid?
Stora Enso Oyj pays a dividend once a year. The dividend record date is the day after the AGM. Shareholders holding shares on the dividend record date are entitled to receive the dividend. The dividend is paid about 8 trading days after the dividend record date.
Dividend history and policy
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4. How much dividend was paid for the previous year and when?
From the dividend history you can see the historical dividend amounts and payment dates. The payment is made in euros, but VPC-registered shareholders are credited in SEK and ADR-holders by Deutsche Bank Trust Company Americas in US dollars.
Dividend history and policy
5. What are ADRs and who holds them?
The abbreviation ADR stands for American Depositary Receipt. One ADR represents one R share.
Most of the ADR holders are US-based shareholders and investors. Currently, we estimate we have about 12 000 ADR holders in the USA.
More information about ADRs
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6. Who can attend the Shareholders’ Meeting?
Anybody can attend the Shareholders’ Meeting. To be able to vote and speak at the Meeting, you must be a shareholder in the company holding Stora Enso shares on the AGM record date, which normally is 3 trading days prior to the Meeting.
Information about past Shareholders' Meetings
7. What is meant by closed period?
The closed period in Stora Enso has two purposes. First, during the closed period the management and investor relations personnel will not meet or discuss the company’s operations with the capital markets. Secondly, during the closed period Stora Enso insiders are not allowed to trade in Stora Enso securities such as shares and options.
Definition of closed period
8. How international is Stora Enso's shareholder base?
Ownership outside Finland is approximately 70% of shares and 50% of votes.
Ownership outside Finland and Sweden is approximately 50% of shares and 20% of votes.
Ownership structure updated quarterly
Largest shareholders updated monthly
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9. Do the trading volumes on different stock exchanges reflect local ownership?
National ownership and trading are not related because cross-border trading is possible: a US shareholder preferring to trade Stora Enso shares in Helsinki would still be considered a US shareholder. NASDAQ OMX Helsinki is the home exchange for Stora Enso shares.
10. Does Stora Enso have a share buy-back programme?
No share buy-back programme was proposed to the shareholders at the most recent AGM. During 2000-2006 annual share buy-back programmes were approved by each Stora Enso AGM. The A shares are more difficult to repurchase than the R shares. Information about buy-backs is updated after each trading day on our website.
Buy-back history
Share capital
11. How many analysts monitor Stora Enso?
To our knowledge, we are actively monitored by almost thirty analysts around the world. In the USA the leading investment banks issue analysts' reports on us, but mainly compiled by their analysts in Europe. A list of analysts is updated on a quarterly basis.
Analyst coverage
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12. When and where will the next AGM be held?
The date of the AGM is published in January when the Board of Directors summons the AGM. The AGM is held in Helsinki.
Information about past Shareholders' Meetings
13. Who are the largest shareholders in Stora Enso?
Foundation Asset Management and The Finnish state are the two largest shareholders in the company. The list of the 20 largest shareholders is updated on a monthly basis and published on our website.
Largest shareholders updated monthly
14. What is the free float of Stora Enso shares?
Stora Enso’s free float is currently 74% of the shares outstanding. This number is calculated by excluding shareholders with more than 5% of the votes.
Ownership structure
Largest shareholders updated monthly
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15. When does your fiscal year end?
The fiscal year ends on 31 December.
Annual reports
Full-year results
16. When do you announce your financial results?
The publication dates can be found from IR calendar
More questions? Please send us an e-mail. 
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