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 every 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 [email protected] or [email protected].
Dual share classes explained
Dual share classes are exceedingly common in Finland and Sweden since decades. The dual share classes are a governance mechanism which facilitates a stable, long-term investor base, while at the same time enables high liquidity in the company with the ability to attract a broad range of investors. The share structure is set by the articles of association of the company which is a publicly available document. Changes to the articles of association can only be made by shareholder decision with special majority. The share structure and the respective rights attached to the different classes of shares is thus highly transparent. In Finnish and Swedish listed companies with dual class share systems, it is not unusual that both classes of shares are listed although in some companies it is only the more liquid class of lower voting shares that is listed.
The Finnish and Swedish dual class share system is combined with strong minority protection rules to ensure that all shareholders are fairly treated. Such minority protection rights include:
- a strong principle of equal and fair treatment of all shareholders,
- qualified majority requirements for key material shareholder decisions,
- shareholder pre-emption rights on share issues, and minority powers to take specific action, including to request minimum dividends, minority auditors and special examiners.
Share information
| Number of shares as of 15 April | | ||
|---|---|---|---|
| A share | 175 540 184 | ||
| R share | 613 079 803 | ||
| Total number of shares | 788 619 987 | ||
| Total number of votes | 236 848 164 | ||
| Share capital since 31 March 2006 | EUR 1 342 million | ||
| Breakdown of shares | A share | R share | Total |
| 17 February 2025 | 175 553 411 | 613 066 576 | 788 619 987 |
| Conversion of A shares into R shares 1 February- 31 March 2025 | -1 077 | 1 077 | |
| 15 April 2025 | 175 552 334 | 613 067 653 | 788 619 987 |
| Conversion of A shares into R shares 1-30 April 2025 | -27 | 27 | |
| 19 May 2025 | 175 552 307 | 613 067 680 | 788 619 987 |
| Conversion of A shares into R shares 1-31 May 2025 | -100 | 100 | |
| 16 June 2025 | 175 552 207 | 613 067 780 | 788 619 987 |
| Conversion of A shares into R shares 1 June - 31 July 2025 | -110 | 110 | |
| 15 August 2025 | 175 552 097 | 613 067 890 | 788 619 987 |
| Conversion of A shares into R shares 1-31 August 2025 | -5 965 | 5 965 | |
| 15 September 2025 | 175 546 132 | 613 073 855 | 788 619 987 |
| Conversion of A shares into R shares 1 - 30 September 2025 | -95 | 95 | |
| 15 October 2025 | 175 546 037 | 613 073 950 | 788 619 987 |
| Conversion of A shares into R shares 1-31 October 2025 | -3 466 | 3 466 | |
| 17 November 2025 | 175 542 571 | 613 077 416 | 788 619 987 |
| Conversion of A shares into R shares 1-30 November 2025 | -150 | 150 | |
| 15 December 2025 | 175 542 421 | 613 077 566 | 788 619 987 |
| Conversion of A shares into R shares 1-31 December 2025 | -93 | 93 | |
| 15 January 2026 | 175 542 328 | 613 077 659 | 788 619 987 |
| Conversion of A shares into R shares 1-31 January 2026 | -105 | 105 | |
| 16 February 2026 | 175 542 223 | 613 077 764 | 788 619 987 |
| Conversion of A shares into R shares 1 February-31 March 2026 | -2 039 | 2 039 | |
| 15 April 2026 | 175 540 184 | 613 079 803 | 788 619 987 |
Stora Enso's shares
| Stora Enso's shares | |||
|---|---|---|---|
| Helsinki | Stockholm | OTC | |
| A share | STEAV | STE A | - |
| R share | STERV | STE R | - |
| ADRs | - | - | SEOAY |
| 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, Dusseldorf |
Dividends
Our Dividend Policy promotes the payment of stable dividends linked to our long-term performance and to distribute 50% of earnings per share (EPS)over the financial cycle.
Dividend for 2025
Stora Enso Oyj’s Annual General Meeting was held on 24 March 2026. The AGM resolved, in accordance with the proposal by the Board of Directors, that the Company shall distribute a dividend of EUR 0.25 per share for the year 2025 in two instalments as follows:
The first dividend instalment, EUR 0.13 per share, shall be paid to shareholders who on the record date of the first dividend payment, 26 March 2026, are registered in the shareholders’ register maintained by Euroclear Finland Oy or in the separate register of shareholders maintained by Euroclear Sweden AB for Euroclear Sweden registered shares. The first dividend instalment shall be paid on or about 8 April 2026.
The second dividend instalment, EUR 0.12 per share, shall be paid to shareholders who on the record date of the second dividend payment, 25 September 2026, are registered in the shareholders’ register maintained by Euroclear Finland Oy or in the separate register of shareholders maintained by Euroclear Sweden AB for Euroclear Sweden registered shares. The second dividend instalment shall be paid on or about 2 October 2026.
First dividend instalment
Record date for dividend: 26 March 2026
Dividend payment: 8 April 2026
Exchange rates:10.914 SEK/EUR and 1.1658 USD/EUR
Second dividend instalment
Record date for dividend: 25 September 2026
Dividend payment: 2 October 2026
Exchange rates: Will be displayed at a later stage
Dividend history (pdf)
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
New York Tel +1 212 723 5435
London +44 207 500 2030
Contacts for registered ADR holders
Computershare
P.O. Box 43077
Providence, Rhode Island 02940-3077
Email: [email protected]
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.
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. 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 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 on 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.
