Metso Corporation's stock exchange release on September 20, 2012 at 3.25 p.m. local time
Metso Corporation's Board of Directors has decided to withdraw its proposal for an extra dividend of EUR 0.50 per share for the financial year ended December 31, 2011. The Extraordinary General Meeting planned for October 12, 2012 has consequently been cancelled.
After the Board decision of September 6, 2012 on proposal on extra dividend, Metso made a decision of the restructuring of its paper machine business. Metso has successfully implemented a number of major reorganizations and improved the efficiency of its operations together with its personnel in recent years that have helped make the Group one of the leading technology companies in its field.
Taking this into consideration and in order to support and secure the process to successfully plan and implement the essential restructuring required in the Group's paper machine business and to secure the Group's long term sustainable performance, the Board has concluded that it no longer believes that an extra dividend is warranted at this time. Withdrawing the proposal is in the Board's view in the best interests of the company, its shareholders, the personnel and thereby Metso's overall position and future development.
Metso is a global supplier of technology and services to customers in the process industries, including mining, construction, pulp and paper, power, and oil and gas. Our 30,000 professionals based in over 50 countries deliver sustainability and profitability to customers worldwide. Expect results.
For further information, please contact:
Matti Kähkönen, President and CEO, Metso Corporation, tel. +358 20 484 3000
Harri Nikunen, CFO, Metso Corporation, tel. +358 20 484 3010
Juha Rouhiainen, VP, Investor Relations, Metso Corporation, tel. +358 20 484 3253
VP, Investor Relations
NASDAQ OMX Helsinki Ltd