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Shareholders and dividend policy

Largest shareholders 31st March 2025

Shareholder

Shares

%

Balder Finska Otas AB (Fastighets AB Balder)

48,483,564

57.0%

Stichting Depositary APG Strategic Real Estate Pool

19,217,470

22.6%

Elo Mutual Pension Insurance Company

10,849,621

12.8%

The State Pension Fund

4,194,300

4.9%

Valkila Erkka

385,000

0.5%

Tradeka Invest Ltd

189,750

0.2%

Research Foundation of the Pulmonary Diseases

180,000

0.2%

SATO Corporation

166,000

0.2%

Komulainen Pekka

159,825

0.2%

Entelä Tuula

151,500

0.2%

Others (119 shareholders)

1,085,414

1.3%


On 31 March 2025, the Group had 129 shareholders entered in the book-entry register. The turnover of SATO Corporation’s shares was 0.1% during the reporting period.

Dividend policy

Annual dividends paid will, depending on the market situation, investment level, the development of equity ratio and the solvency ratio, be a maximum of 40 percent of the cash earnings.

The Annual General Meeting on 20th March 2025 decided that no dividend would be distributed for 2024