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.