Nokia 2011 Annual Report Download - page 13

The table below sets forth the amounts of total cash dividends per share and per ADS paid in respect
of each fiscal year indicated. For the purposes of showing the US dollar amounts per ADS for 2007
through 2011, the dividend per share amounts have been translated into US dollars at the noon buying
rate in New York City for cable transfers in euro as certified for customs purposes by the Federal
Reserve Bank of New York on the respective dividend payment dates.
EUR per share USD per ADS
EUR millions
(in total)
2007 ............................ 0.53 0.83 1 992
2008 ............................ 0.40 0.54 1 481
2009 ............................ 0.40 0.49 1 483
2010 ............................ 0.40 0.57 1 484
2011 ............................ 0.20(1) —(2) 749(3)
(1) The proposal of the Board of Directors for shareholders’ approval at the Annual General Meeting
convening on May 3, 2012.
(2) The final US dollar amount will be determined on the basis of the decision of the Annual General
Meeting and the dividend payment date.
(3) Maximum amount to be distributed as dividend based on the number of shares at December 31,
2011. Earlier year figure represents the total actual amount paid.
We make our cash dividend payments in euro. As a result, exchange rate fluctuations will affect the US
dollar amount received by holders of ADSs on conversion of these dividends. Moreover, fluctuations in
the exchange rates between the euro and the US dollar will affect the dollar equivalent of the euro
price of the shares on NASDAQ OMX Helsinki and, as a result, are likely to affect the market price of
the ADSs in the United States. See also Item 3D. “Risk Factors—Our net sales, costs and results of
operations, as well as the US dollar value of our dividends and market price of our ADSs, are affected
by exchange rate fluctuations, particularly between the euro, which is our reporting currency, and the
US dollar, the Japanese yen and the Chinese yuan, as well as certain other currencies.”
Exchange Rate Data
The following table sets forth information concerning the noon buying rate for the years 2007 through
2011 and for each of the months in the six-month period ended February 29, 2012, expressed in US
dollars per euro. The average rate for a year means the average of the exchange rates on the last day
of each month during a year. The average rate for a month means the average of the daily exchange
rates during that month.
Exchange rates
For the year ended December 31:
Rate at
Period
end
Average
rate
Highest
rate
Lowest
rate
(USD per EUR)
2007 ....................................... 1.4603 1.3797 1.4862 1.2904
2008 ....................................... 1.3919 1.4695 1.6010 1.2446
2009 ....................................... 1.4332 1.3955 1.5100 1.2547
2010 ....................................... 1.3269 1.3216 1.4536 1.1959
2011 ....................................... 1.2973 1.3931 1.4875 1.2926
September 30, 2011 .......................... 1.3449 1.3747 1.4283 1.3446
October 31, 2011 ............................. 1.3947 1.3732 1.4172 1.3281
November 30, 2011 ........................... 1.3453 1.3558 1.3803 1.3244
December 31, 2011 ........................... 1.2973 1.3155 1.3487 1.2926
January 31, 2012 ............................. 1.3053 1.2910 1.3192 1.2682
February 29, 2012 ............................ 1.3359 1.3238 1.3463 1.3087
On March 2, 2012, the noon buying rate was USD 1.3202 per EUR 1.00.
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