Nokia 2015 Annual Report Download - page 70

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68 NOKIA IN 2015
Dividend
The Board proposes an ordinary
dividend of EUR 0.16 per share
for2015. Additionally, the Board
proposes a special dividend of
EUR 0.10 per share.
The proposed dividend is in line with our
distribution policy.
We distribute retained earnings, if any, within
the limits set by the Finnish Companies Act
(asdened below). We make and calculate the
distribution, if any, either in the form of cash
dividends, share buy-backs, or in some other
form or a combination of these. There is no
specic formula by which the amount of a
distribution is determined, although some
limits set by law are discussed below. The
timing and amount of future distributions
ofretained earnings, if any, will depend on
ourfuture results and nancial conditions.
Under the Finnish Companies Act, we may
distribute retained earnings on our shares
only upon a shareholders’ resolution and
subject to limited exceptions in the amount
proposed by the Board. The amount of any
distribution is limited to the amount of
distributable earnings of the parent company
pursuant to the last accounts approved by our
shareholders, taking into account the material
changes in the nancial situation of the
company after the end of the last nancial
period and a statutory requirement that the
distribution of earnings must not result in
insolvency of the company. Subject to
exceptions relating to the right of minority
shareholders to request a certain minimum
distribution, the distribution may not
exceedthe amount proposed by the Board.