Dividend policy

UPM aims to pay attractive dividends, targeting at least half of the comparable earnings per share over time.

Dividend proposal for the year 2022

Dividend proposal per share EUR 1.50

Payment dates (will be paid in two equal instalments)	April 21, 2023 and November 2, 2023
Annual General Meeting	April 12, 2023

More information

Dividend for year	Dividend / share, €	Record date	Payment date
2021	1,30	March 31, 2022	April 7, 2022
2020	1,30	April 1, 2021	April 12, 2021
2019	1,30	April 2, 2020	April 16, 2020
2018	1,30	April 8, 2019	April 17, 2019
2017	1,15	April 9, 2018	April 19, 2018
2016	0,95	March 31, 2017	April 12, 2017
2015	0,75	April 11, 2016	April 21, 2016
2014	0,70	April 13, 2015	April 23, 2015
2013	0,60	April 11, 2014	April 24,2014
2012	0,60	April 9, 2013	April 19, 2013
2011	0,60	April 4, 2012	April 13, 2012
2010	0,55	April 12, 2011	April 20, 2011
2009	0,45	March 25, 2010	April 7, 2010
2008	0,40	March 30, 2009	April 8, 2009
2007	0,75	March 31, 2008	April 10, 2008
2006	0,75	March 30, 2007	April 10, 2007
2005	0,75	March 27, 2006	April 4, 2006
2004	0,75	April 5, 2005	April 12, 2005
2003	0,75	March 29, 2004	April 5, 2004
2002	0,75 [1]	March 24, 2003	April 1, 2003
2001	0,75 [1]	March 22, 2002	April 3, 2002
2000	0,75 [1]	March 27, 2001	April 3, 2001
1999	1,08 [1],[2]	March 21, 2000	March 31, 2000
1998	0,55 [1]	March 24, 1999	April 1, 1999
1997	0,46 [1]	March 30, 1998	April 3, 1998
1996	0,38 [1]	April 15, 1997	May 6, 1997

[1] dividend is adjusted with bonus issue
[2] includes extra dividend of 45 cents (record date June 14, 2000)