Annual General Meeting

A shareholders meeting is Stora Enso's highest decision-making body. The Annual General Meeting (AGM) is held annually in order to present detailed information about the company's performance and to deal with matters such as adopting the previous year’s income statement and balance sheet, setting of dividend and its payment, and appointing members of the Board of Directors and the Auditor.

Annual General Meeting 2021

Friday 19 March 2021 at 16 EET followed by webcast for all shareholders and investors beginning at 17 EET 

In order to prevent the spread of the Covid-19 pandemic, the AGM will be held without the presence of shareholders or their representatives. This means that the shareholders of the Company and their proxy representatives may participate in the meeting and exercise their rights as shareholders only through voting in advance as well as by making counterproposals and presenting questions in advance in accordance with the instructions presented below.

Important dates

11 February 2021
: Notice to the AGM published
16 February 2021: Last day for shareholders holding at least 1 % of all the shares in the Company to present counterproposals
17 February 2021: Registration period and advance voting period commence
5 March 2021: Last day for shareholders to send questions to the AGM
9 March 2021: AGM record date
15 March 2021: Deadline for the notice of participation and votes for Finnish shareholders

AGM material

Please find the following material from the document center below:

  • Agenda and notice to the meeting
  • Proposals made by the Nomination Board
  • Proposals made by the Board of Directors
  • Video introductions of the proposed new Board members
  • Advance voting forms

The time for shareholders to request items on the agenda has expired. See schedule from the document center below.

Right of attendance

Each shareholder, who is registered on the record date of the AGM, Tuesday 9 March 2021, in the shareholders’ register of the Company maintained by Euroclear Finland Oy, has the right to participate in the AGM. It is only possible to participate by voting in advance as well as presenting questions or counterproposals in advance. 

Notice of participation and voting in advance

The registration period and advance voting period commence on Wednesday 17 February 2021 at 10 a.m. Finnish time, when the deadline for delivering counterproposals to be put to a vote has expired.

Shareholders with a Finnish book-entry account can register and vote in advance from Wednesday 17 February 2021 at 10 a.m. Finnish time – Monday 15 March 2021 at 4 p.m. Finnish time in the following manners:

a. Electronic voting in advance

Click here to voting.

For online advance voting for Swedish shareholders, kindly scroll down.

For natural persons, the electronic voting in advance requires secured strong electronic authentication and the shareholder may register and vote by logging in with his/her Finnish online banking codes or a mobile certificate.  When shareholders who are natural persons log into the service through the Company's website, they are directed to the electronic authentication. After this, a shareholder can in one session register to the AGM, authorize another person, and vote in advance.

For shareholders that are legal persons, no strong electronic authentication is required. However, shareholders that are legal persons must notify their book-entry account number and other required information. 

b. by regular mail or e-mail

A shareholder may deliver an advance voting form available in the document library below to Euroclear Finland Oy by regular mail to Euroclear Finland Oy, Yhtiökokous, PL 1110, FI-00101 Helsinki, Finland or by e-mail to yhtiokokous@euroclear.eu. The advance voting form is available at the document center below.

A representative of the shareholder must in connection with delivering the voting form produce a dated proxy document or otherwise in a reliable manner demonstrate his/her right to represent the shareholder at the AGM. If a shareholder participates in the AGM by delivering votes in advance to Euroclear Finland Oy, the delivery of the votes shall constitute due registration for the AGM.

Holders of nominee-registered shares

A holder of nominee-registered shares is advised to request without delay necessary instructions regarding the temporary registration in the shareholders’ register of the Company, the issuing of proxy documents and registration for the AGM from his/her custodian bank. The account management organisation of the custodian bank will temporarily register a holder of nominee-registered shares, who wants to participate in the AGM, into the shareholders’ register of the company at the latest by the time stated above. In addition, the account management organisation of the custodian bank must see to the voting in advance on behalf of a nominee-registered shareholder within the registration period applicable to nominee-registered shares.

Shares registered in Euroclear Sweden AB

A shareholder with shares registered in Euroclear Sweden AB´s Securities System who wishes to register for the AGM and vote in advance must be registered in the shareholders’ register maintained by Euroclear Sweden AB no later than on Tuesday 9 March 2021.

Shareholders, whose shares are registered in the name of a nominee must, in order to be eligible to request a temporary registration in the shareholders’ register of Stora Enso Oyj maintained by Euroclear Finland Oy, request that their shares are re-registered in their own names in the register of shareholders maintained by Euroclear Sweden AB, and procure that the nominee sends the above-mentioned request for temporary registration to Euroclear Sweden AB on their behalf. Such re-registration must be made at the latest by Thursday 11 March 2021 and the nominee should therefore be notified well in advance before said date.

Shareholders, whose share are registered in the shareholders’ register maintained by Euroclear Sweden AB may only participate in the meeting and exercise their rights as shareholders through voting in advance.

Shareholders with a Swedish book-entry account can register and vote in advance on certain matters on the agenda during the period Wednesday 17 February 2021 – Thursday 11 March 2021 in the following manners:

a. shareholders who are natural persons, electronic voting in advance:

Click here to voting.

The electronic voting in advance requires secured strong electronic authentication and the shareholder may register and vote by logging in with his/her Swedish online banking codes or a mobile certificate. When shareholders who are natural persons log into the service through a link found at the Company's website, they are directed to the electronic authentication. After this, a shareholder can in one session register to the AGM and vote in advance.

Shareholders who are legal persons shall proceed as set out in b) below and deliver the advance voting form to Euroclear Sweden AB by e-mail or regular mail.

b. by regular mail or e-mail

A shareholder may deliver an advance voting form available on the document library below to Euroclear Sweden AB by regular mail using the following address: Stora Enso Oyj “AGM 2021”, c/o Euroclear Sweden AB, Box 191, SE-101 23 Stockholm, Sweden or by e-mail to GeneralMeetingService@euroclear.com. The advance voting form will be available on the Company’s website no later than on Wednesday 17 February 2021 at 10 a.m. Finnish time.

A representative of the shareholder must in connection with delivering the voting form produce a dated proxy document or otherwise in a reliable manner demonstrate his/her right to represent the shareholder at the AGM.

If a shareholder participates in the AGM by delivering votes in advance to Euroclear Sweden AB, the delivery of the votes shall constitute due registration for the AGM.


ADR holders

ADR holders intending to vote at the AGM shall notify the depositary bank, Citibank, N.A., of their intention and shall comply with the instructions provided by Citibank, N.A. to each ADR holder.

Questions and counterproposals to the Annual General Meeting

The time for shareholders holding no less than one hundredth of all the shares in the Company to send counterproposals to the proposals for resolutions on the agenda of the AGM has expired.

Shareholders can send questions pursuant to Chapter 5, Section 25 of the Finnish Companies Act to the Company's management by Friday 5 March 2021 by e-mail to agm@storaenso.com.

Questions and answers till be published on this webpage prior to the AGM.


Virtual shareholder event after the meeting

All shareholders are invited to attend a virtual shareholder event that will be held online after the meeting beginning at 5 pm Finnish time at https://storaenso.videosync.fi/2021-agm-webcast

At the online event the decisions of the AGM will be presented as well as an overview of the financial year 2020 and an update on Stora Enso’s current strategy and financial targets. Presentations by representatives of the Board of Directors and Stora Enso management will be followed by an online Q&A session with possibility for shareholders to raise questions.

A recording of the event will be posted on this webpage after the event.


Changes in withholding taxation of dividends

Changes in the Finnish law based withholding taxation of dividends paid to holders of nominee registered shares have entered into force and are applicable as of 1 January 2021.

In practice, this means that as a starting point, withholding tax of 35% will be withheld on Finnish source dividend payments in most cases. In certain situations where inter alia a custodian is registered with the Finnish Tax Administration, the withholding percentage may also be lower.

It is possible to apply from the Finnish Tax Administration for a reclaim of any tax withheld in excess of the applicable withholding tax rate (e.g. applicable tax treaty rate) after the year of the dividend payment.

This can be done by submitting a refund application to the Finnish Tax Administration, either on paper (form for corporate entities
here, and for individuals here), or electronically.

You may also be able to receive a refund already during the year of dividend payment via your registered custodian. Please contact your custodian for further information.

Additional information on withholding tax reclaims can be obtained from the Tax Administration either:

Please note that Stora Enso does not process withholding tax reclaims.

Dividends paid to Finnish tax resident holders of nominee registered shares may as of 2020 have been subject to withholding of 50% tax prepayment (ennakonpidätys). Any excess tax prepayment will be credited in the normal tax assessment process where the shareholder reports their dividend income to the Finnish Tax Administration.

Meeting material 2021

Video introduction of a proposed new Board member: Helena Hedblom

Video introduction of a proposed new Board member: Hans Sohlström