Shareholder structure

Treasury shares


Metsä Board does not hold any treasury shares.



Metsä Board aims to distribute at least 50 per cent of the result for the financial period as dividend every year.

Year Earnings per share Dividend per share Dividend pay-out-ratio
2013 0.19 0.09 47.0
2014 0.20 0.12 57.0
2015 0.39 0.17 44.0
2016 0.25 0.19 76.0
2017 0.42 0.21 50.0
2018 0.57 0.29 51
2019 0.41 0.24 59.0

 Management shareholding 


Metsä Board complies with the laws and regulations governing the securities markets, including the EU Market Abuse Regulation, the Finnish Securities Market Act and regulations issued by the European Securities and Markets Authority ESMA and the Finnish Financial Supervision Authority (FSA). Furthermore, Metsä Board complies with the Guidelines for Insiders of Listed Companies 2016 issued by Nasdaq Helsinki Oy.

Metsä Board has defined the managers required to disclose to the FSA and the Company all transactions made with Metsä Board shares and related financial instruments. Such managers include the Board of Directors and the CEO. The foregoing managers are further responsible for determining the persons and companies closely associated with them, who are also subject to similar disclosure requirements. Members of the Corporate Management Team (CMT) excluding the CEO are not subject to these requirements. However, CMT members are required by the Company to notify the Company of any changes in their holdings of Metsä Board shares and other financial instruments.

Metsä Board managers and persons involved in the preparation of financial reporting information may not trade in Metsä Board shares or other financial instruments instruments during the silent period (i.e. a minimum 30-day period starting from the end of a reporting period and ending on the day of the Company’s interim accounts release or financial statement bulletin).

Shareholdings of the members of the Board of Directors and CEO as at 30 September 2020

Ilkka Hämälä ​Chairman of the Board 337,648 B shares
​Hannu Anttila​Member of the Board140,619 B shares​
​Kirsi Komi ​Member of the Board ​78,287 B shares
​Kai Korhonen ​Member of the Board ​215,057 B shares
​Liisa Leino ​Member of the Board ​182,932 B shares
​Jussi LinnarantaMember of the Board​19,462 B shares
​Jukka Moisio ​Member of the Board ​5,275 B shares
​Timo Saukkonen​Member of the Board​9,875 B shares
​Veli Sundbäck ​Member of the Board ​67,952 B shares
​Mika JoukioCEO​​354,025 B shares

Shareholdings of the members of the Corporate Management Team (excl. CEO) as at 30 September 2020

​Jussi Noponen ​CFO ​65,000 B shares
​Ari Kiviranta ​SVP, Development ​45,000 B shares
​Sari Pajari-Sederholm ​SVP, Sales and Marketing 72,041 B shares
​Harri PihlajaniemiSVP, Production​​17,523 B-shares
​Camilla Wikström
SVP, Human Resources ​35,184 B shares

Shareholdings are updated quarterly and information is based on managers' own notifications.

MORE information

Major shareholders

Metsä Board's biggest shareholders according to the number of shares and/or voting rights.