Stora Enso’s board of directors has decided on the payment of the second dividend installment

EUR 0.15 per share for the financial year 2019 to be paid

61
Stora Enso
Anjala Mill in Finland (Image: Stora Enso)

Stora Enso Oyj’s board of directors has decided that a second dividend installment of EUR 0.15 per share (approximately Rs 13.37) will be distributed based on the balance sheet adopted for the year 2019. The dividend is based on the authorization given by Stora Enso’s annual general meeting of 4 June 2020. The resolution of the board on the distribution of dividend was made considering the impacts of the Covid-19 pandemic on Stora Enso’s business and liquidity.

The second dividend installment will be paid on or about 17 December 2020 to a shareholder who is recorded in the shareholders’ register maintained by Euroclear Finland Oy or in the separate register of shareholders maintained by Euroclear Sweden AB on the record date of the dividend payment, 10 December 2020. The dividend payable for Euroclear Sweden registered shares will be forwarded by Euroclear Sweden AB and paid in Swedish krona. Dividends payable to ADR holders will be forwarded by Citibank NA and paid in US dollars. The ex-dividend date is 9 December 2020.

Stora Enso’s annual general meeting of 4 June 2020 decided on an immediate dividend payment of EUR 0.15. It also authorized the board of directors to decide at a later date, at its discretion, to distribute a total dividend of up to EUR 0.35 per share in one or more installments. Following the dividend payment on 17 December 2020, the total dividend for the financial year 2019 is EUR 0.30 per share.

2023 promises an interesting ride for print in India

Indian Printer and Publisher founded in 1979 is the oldest B2B trade publication in the multi-platform and multi-channel IPPGroup. While the print and packaging industries have been resilient in the past 33 months since the pandemic lockdown of 25 March 2020, the commercial printing and newspaper industries have yet to recover their pre-Covid trajectory.

The fragmented commercial printing industry faces substantial challenges as does the newspaper industry. While digital short-run printing and the signage industry seem to be recovering a bit faster, ultimately their growth will also be moderated by the progress of the overall economy. On the other hand book printing exports are doing well but they too face several supply-chain and logistics challenges.

The price of publication papers including newsprint has been high in the past year while availability is diminished by several mills shutting down their publication paper and newsprint machines in the past four years. Indian paper mills are also exporting many types of paper and have raised prices for Indian printers. To some extent, this has helped in the recovery of the digital printing industry with its on-demand short-run and low-wastage paradigm.

Ultimately digital print and other digital channels will help print grow in a country where we are still far behind in our paper and print consumption and where digital is a leapfrog technology that will only increase the demand for print in the foreseeable future. For instance, there is no alternative to a rise in textbook consumption but this segment will only reach normality in the next financial year beginning on 1 April 2023.

Thus while the new normal is a moving target and many commercial printers look to diversification, we believe that our target audiences may shift and change. Like them, we will also have to adapt with agility to keep up with their business and technical information needs.

Our 2023 media kit is ready, and it is the right time to take stock and reconnect with your potential markets and customers. Print is the glue for the growth of liberal education, new industry, and an emerging economy. We seek your participation in what promises to be an interesting ride.

– Naresh Khanna

Subscribe Now

LEAVE A REPLY

Please enter your comment!
Please enter your name here