At the Extraordinary General Meeting of UPM-Kymmene Corporation, held on 13June, 2000, it was decided to pay an extra dividend of EUR 0.90 per shareaccording to the proposal of the Board of Directors. The record date for thedividend payment is 16 June, 2000. The dividend will be paid on 22 June, 2000.
The proposal of the Board of Directors to reduce the share capital byinvalidating the company's 7,538,000 own shares held by the company wasapproved. The share capital of the Company 449,128,118.84 euros will be reducedby 12,678,011.44 euros.
The proposal by the Board of Directors on the purchase of the company's ownshares using distributable funds was approved. A minimum of 100 and a maximum of12,900,000 own shares will be purchased. The Extraordinary General Meetingauthorized the Board of Directors to decide on the disposal of own shares thusacquired.
In his review Mr Juha Niemelä, President and CEO, said that demand of paperproducts has remained good. According to him, the capital expenditure of thecompany will be maintained moderate. However in 2000 the capital expenditurewill rise somewhat higher than anticipated to approximately EUR 700 million dueto the timing of the investments. The company has no new paper machine plans.
UPM-Kymmene CorporationCorporate Communications13 June, 2000