Annual Report 2021
Shares and Shareholders
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Dividend and Dividend Policy

Bittium Corporation follows a dividend policy that takes into account the group´s net income, financial situation, need for capital and financing growth.

Dividend from 2020

Based on the shareholder vote concerning minority dividend, the Annual General Meeting decided in deviation from the proposal of the Board of Directors that a minority dividend corresponding to half of the profit for the financial period shall be paid in accordance with Chapter 13, Section 7 of the Companies Act. The Board of Directors of the company had proposed to the Annual General Meeting that no dividend be distributed by the Annual General Meeting based on the adopted balance sheet for the financial period of January 1, 2020–December 31, 2020. The total amount of the minority dividend to be distributed was EUR 1,110,327.74, corresponding to EUR 0.0311 per share.

The dividend was paid to shareholders who on the dividend record date April 16, 2021, were registered in the company´s shareholders´ register held by Euroclear Finland Oy. The dividend was paid on April 23, 2021. All the shares in the company were entitled to the dividend with the exception of shares possibly held by the Company on the dividend record date.

Proposal by the Board of Directors on the Use of the Profit Shown on the Balance Sheet and the Payment of the Dividend

On December 31, 2021, the parent company´s distributable funds amounted to EUR 117,996,832.83, of which EUR 127,479.11 is profit for the last financial year. The Board of Directors proposes that the Annual General Meeting resolve to pay EUR 0.04 per share as a dividend based on the balance sheet to be adopted for the financial period January 1, 2021–December 31, 2021.

The proposed dividend corresponds to a total of EUR 1,428,090.56 as of the date of the notice of the Annual General Meeting. The proposed dividend exceeds the amount of a minority dividend, which would be EUR 63 739,56, i.e. approximately EUR 0.0018 per share. The dividend will be paid to the shareholders who are registered in the company´s register of shareholders as maintained by Euroclear Finland Ltd on the dividend record date, April 8, 2022. The Board of Directors proposes that the dividend be paid on April 19, 2022.