Shares and shareholders

How can we help you?

Do you want to know more about Stora Enso?

How can we help you?

I've got questions related to Shares and shareholders.
I'm looking for the person responsible for Shares and shareholders.

Stora Enso Oyj shares are listed on the Nasdaq Helsinki Oy and Nasdaq Stockholm AB, and are divided into A and R shares.

All shares entitle holders to an equal dividend but different voting rights, with each A share and each ten R shares representing one vote at the Annual General Meeting (AGM). 

Stora Enso shares are quoted in Euros (EUR) in Helsinki and in Swedish crown (SEK) in Stockholm. Shares are registered in Euroclear Finland and Euroclear Sweden and the ADRs in Citibank, N.A. 

For changes in ownership according to the Finnish Securities Markets Act, please send an e-mail to or

Investor contacts and events: Find information about our contacts, ongoing and upcoming financial events as well as our roadshows.
Please note: Shares registered in Euroclear Sweden (STE R shares) and ADRs are both nominee registered in Euroclear Finland and thus included in the number of STERV in the table above. For total number of Stora Enso R and A shares, please see table below.

Share information

Number of shares as of 15 May 2023
​​A share​​ 176 234 787
R share 612 385 200
Total number of shares 788 619 987
Total number of votes 237 473 307
​Share capital 31 March 2006​ ​EUR 1 342 million
Breakdown of shares A share R share Total
Conversion of A shares into R shares 1 December - 31 December 2022 -4 4
16 January 2023 176 238 276 612 381 711 788 619 987
Conversion of A shares into R shares 1 January - 31 January 2023 -825 825
15 February 2023 176 237 451 612 382 536 788 619 987
Conversion of A shares into R shares 1 March - 31 March 2023 -2 398 2 398
17 April 2023 176 235 053 612 384 934 788 619 987
Conversion of A shares into R shares 1 April - 30 April 2023 -266 266
15 May 2023 176 234 787 612 385 200 788 619 987
Registered share capital is (since 31 March 2006): EUR 1 342 215 448.30

Stora Enso's shares

Helsinki Stockholm OTC
A share STEAV STE A -
R share STERV STE R -
Currency EUR SEK USD
German stock quotations (Freiverkehr)
Symbol CUSIO number Place of listing
A share ENUA 870 734 Berlin, Munich
R share ENUR 871 004 Berlin, Frankfurt, Stuttgart, Munich, Düsseldorf


Our Dividend Policy promotes the payment of stable dividends linked to our long-term performance and to distribute 50% of earnings per share (EPS) excluding fair valuation over the financial cycle.

Dividend for 2022

Stora Enso Oyj’s Annual General Meeting 2023 was held on Thursday16 March 2023. The AGM approved the proposal by the Board of Directors that the Company shall distribute a dividend of EUR 0.60 per share for the year 2022.

Record date for dividend: 20 March 2023
Dividend payment: 27 March 2023
Exchange rates: 11.19250 for SEK and 1.0781 for USD

Dividend history (pdf)


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.

American depositary receipts - ADRs 

Stora Enso’s shares are traded in the USA as American Depositary Receipts (ADRs). The ratio between Stora Enso ADRs and R shares is 1:1, i.e. one ADR represents one Stora Enso R share. 

Citibank, N.A. (Citi) acts as depositary bank for Stora Enso's ADR programme. The trading symbol is SEOAY and the CUSIP is 86210M106. 

Additional ADR info

Contacts for ADR investors and brokers

Citibank ADR broker services desks
New York Tel +1 212 723 5435
London +44 207 500 2030

Contacts for registered ADR holders

Citibank Shareholder Services
P.O. Box 43077
Providence, Rhode Island 02940-3077
Toll-free number: (877)-CITI-ADR
Direct dial: (781) 575-4555

Stora Enso share buy-backs

The Annual General Meeting 2023 authorised the Board of Directors to decide on the repurchase of Stora Enso R shares until 31 July 2024. 

The amount of R shares to be repurchased shall not exceed 2,000,000 shares, which corresponds to approximately 0.25% of all shares and 0.33% of all R shares in the Company. Own R shares can be repurchased otherwise than in proportion to the shareholdings of the shareholders (directed repurchase). Own R shares can be repurchased using the unrestricted equity of the Company at a price formed in public trading on the date of the repurchase or otherwise at a price determined by the markets. Own R shares may be repurchased primarily in order to use the shares as part of the Company's incentive and remuneration scheme. The repurchased shares may be held for reissue, cancelled or transferred further.

Share buy-back history

Old share certificates

Stora Enso’s and its predecessors (e.g. Enso-Gutzeit) physical, paper format shares have had no financial value since 14 June 2012.

Old Stora Enso and its predecessors (e.g. Enso-Gutzeit) physical, paper share certificates have not been in use since the shares were transferred to the book-entry system, but have been held in a joint book entry account. In 2001, Stora Enso’s Annual General Meeting approved the sale of Stora Enso shares that were not transferred to the book-entry system on behalf of their owners. On 5 June 2002, Stora Enso sold the shares (in total 7 121 series A and 23 100 series R shares) which were not transferred to the book-entry system by that date.

The owners or other holders of rights over the shares that were in this joint book-entry account were entitled to claim an amount proportional to their shares from the sale. The amount was paid from the net sale proceeds deposited with the Provincial State Office of Southern Finland against share certificates or any other title documents. The right to claim from the deposited funds expired after ten years in 14 June 2012.

Share history

Stora Enso Oyj is a global paper, packaging and wood products company, with shares listed on Nasdaq Helsinki and Nasdaq Stockholm, and traded in the USA as ADRs. Stora Enso was formed through the merger of Finnish Enso and Swedish STORA at the end of 1998. However, the roots of the company date back to the 13th century and beyond.

1288: STORA’s history dates back to a time when copper mining started in Falun, Sweden. The company is first mentioned in documents dated 1288.

1872: Enso is established at Kotka, Finland. The company goes through several mergers and acquisitions over the following decades.

1901: STORA’s shares are listed on the Stockholm Stock Exchange.

1916: Enso's shares are listed on the Helsinki Exchanges.

1998: STORA and Enso merge – Enso Oyj’s name is changed to Stora Enso Oyj and its share capital is increased. New shares are listed on the Helsinki Exchanges and on the Stockholm Stock Exchange.

1999: Stora Enso initiated compulsory redemption of the remaining STORA shares. STORA shares were delisted from the Stockholm, London and Frankfurt stock exchanges.

2000: Stora Enso shares are listed on the New York Stock Exchange.

2007: Stora Enso shares are delisted from the New York Stock Exchange.

Quick links