Outokumpu

Dividend policy

Outokumpu's Dividend Policy

The dividend policy established by the Board of Directors states that the dividend
payout ratio over a business cycle should be at least one-third of the company's net profit
for the period with the aim to have stable annual payments to shareholders. In its
annual dividend proposal, the Board of Directors will, in addition to financial results,
take into consideration the Group's investment and development needs.

Dividend confirmed by the Annual General Meeting 2009 is EUR 0.50 per share from
the profits of the financial year 2008.

Dividend per share 2008 2007 2006 2005 2004
0.50 1.20 1.10 0.45 0.50