Shares

Share capital and shares

Tieto Corporation’s issued and registered share capital on 31 December 2017 totaled EUR 76 555 412.00 and the number of shares was 74 109 252.

Tieto’s shares have no par value and their book counter value is one euro. Tieto’s shares are listed on NASDAQ in Helsinki and Stockholm. The company has one class of shares, with each share conferring equal dividend rights and one vote. The company’s Articles of Association include a restriction on voting at the Annual General Meeting, where no-one is allowed to vote with more than one-fifth of the votes represented at the meeting. The Articles of Association are available at www.tieto.com/investors.

Shareholders and holding of own shares

The company had 26 430 registered shareholders at the end of 2017. Based on the ownership records of the Finnish and Swedish central securities depositories, 38.1% of Tieto’s shares were held by Finnish and 3.7% by Swedish investors. In total, there were 24 816 retail investors in Finland and Sweden and they held 12% of Tieto’s shares.

The members of the Board of Directors, the President and CEO and their close associates together held 0.1% of the shares and votes registered in the book-entry system on 31 December 2017. The President and CEO is also participating in Tieto’s long-term share-based incentive plans. Potential rewards will be paid partly in Tieto shares. As the number of additional shares related to these incentives is dependent on the company’s performance these are not included in this aggregate number.

Tieto has three longer-term shareholders holding 10% or more of the shares: Cevian Capital Partners Ltd, Solidium Oy and Silchester International Investors LLP. Based on the latest information (31 August 2017), Cevian Capital's holding was 11 066 684 shares, representing 14.9% of the shares and voting rights. Solidium Oy held 10.0% of Tieto’s shares on 31 December 2017. Based on its announcement made on 23 June 2015, Silchester International Investors LLP’s aggregate holding in Tieto was 7 401 027 shares, which represents 10.0% of the shares and voting rights. There were no flagging announcements in 2017.

Tieto is not aware of any shareholder agreements or cross-shareholdings that would limit the amount of shares available for trading. The free float of the shares can be considered to be 100% excluding the treasury shares currently held by the company.

At the end of 2017, the number of shares in the company’s or its subsidiaries’ possession totalled 386 127 representing 0.5% of the total number of shares and voting rights. Related to the company’s share-based reward plan, a total of 25 555 shares held by Tieto were transferred to the participants of the plan. The number of outstanding shares, excluding the treasury shares, was 73 723 125 at the end of the year.

Share-based incentives

Tieto has established several share-based incentive plans (further details available in the Financial Statements). The share rewards to be delivered to the participants will consist of shares to be acquired from the market. Thus, the incentive plans will have no dilutive effect. The company has not issued any bonds with warrants nor has any stock options programmes.

Board authorizations

The 2017 Annual General Meeting authorized the Board of Directors to decide on the repurchase of the company's own shares. The amount of own shares to be repurchased shall not exceed 7 400 000 shares, which currently corresponds to approximately 10% of all the shares in the company. The authorization is intended to be used to develop the company’s capital structure.

SHARE INFORMATION
 
  2017 2016 2015 2014 2013
Number of shares          
Number of shares 74 109 252 74 109 252 74 009 953 73 675 903 73 132 367
Outstanding shares 1)          
At year end 73 723 125 73 697 570 73 544 869 73 165 084 72 590 573
Average 73 722 565 73 660 433 73 426 563 72 944 228 72 369 221
           
Share capital at year end, EUR 76 555 412 76 555 412 76 555 412 76 555 412 76 555 412
           
Per share data          
Earnings per share, EUR          
Basic 1.46 1.46 1.23 0.48 0.86
Diluted 1.46 1.46 1.23 0.48 0.86
Equity per share, EUR 6.45 6.62 6.57 6.44 7.08
           
Share price performance and trading volumes          
NASDAQ Helsinki          
Highest price of share, EUR 29.98 28.47 25.00 22.64 18.43
Lowest price of share, EUR 24.39 22.20 19.98 16.15 14.20
Average price of share, EUR 26.85 24.83 22.48 19.45 16.09
Turnover, number of shares 35 895 771 34 827 778 37 041 013 28 085 320 26 657 716
Turnover, % 48.4 47.0 50.0 38.1 36.5
           
NASDAQ Stockholm          
Highest price of share, SEK 289.50 275.90 246.10 207.90 155.00
Lowest price of share, SEK 232.20 205.70 183.00 142.10 123.00
Average price of share, SEK 259.19 229.09 210.32 177.45 140.05
Turnover, number of shares 2 540 715 1 802 382 1 802 615 3 138 593 1 511 176
Turnover, % 3.4 2.4 2.4 4.3 2.1
           
Market capitalization, EUR million 1 925.4 1 920.9 1 829.5 1 584.8 1 202.3
           
Dividends          
Dividend, EUR 1 000 103 212 101 001 99 290 95 177 65 369
Dividend per share, EUR 1.40 1.37 1.35 1.30 0.90
Payout ratio, % 95.9 93.8 109.8 270.8 104.7
           
Price-weighted ratios          
NASDAQ Helsinki          
Price per earnings ratio (P/E) 18 18 20 45 19
Dividend yield, % 5.4 5.3 5.5 6.0 5.5
           
NASDAQ Stockholm          
Price per earnings ratio (P/E) 18 18 20 45 19
Dividend yield, % 5.4 5.3 5.5 6.0 5.4
           
Major shareholders on 31 December 2017
 
Shares %
1 Cevian Capital 1) 11 066 684 14.9
2 Solidium Oy 7 415 418 10.0
3 Silchester International Investors LLP 2) 7 401 027 10.0
4 Swedbank Robur fonder 1 883 968 2.5
5 Ilmarinen Mutual Pension Insurance Co. 1 571 423 2.1
6 Elo Pension Co. 838 648 1.1
7 The State Pension fund 773 000 1.0
8 Nordea Funds 758 259 1.0
9 OP-Finland Value Fund 675 050 0.9
10 Svenska litteratursällskapet i Finland r.f. 541 345 0.7
  Top 10 shareholders total 32 924 822 44.4
  - of which nominee registered 20 351 679 27.5
       
  Nominee registered other 24 968 124 33.7
  Others 16 216 306 21.9
  Total 74 109 252 100.0
       
Based on the ownership records of Euroclear Finland Oy and Euroclear Sweden AB.
       
 
Number of shares Shareholders Shares
  No % No %
1 - 100 6 208 37.6 345 997 0.5
101 - 500 6 530 39.6 1 714 897 2.3
501 - 1 000 1 878 11.4 1 445 035 1.9
1 001 - 5 000 1 551 9.4 3 316 236 4.5
5 001 - 10 000 165 1.0 1 157 943 1.6
10 001 - 50 000 101 0.6 2 247 258 3.0
50 001 - 100 000 23 0.1 1 515 929 2.0
100 001 - 500 000 25 0.2 5 214 046 7.0
500 001 - 10 0.1 57 141 351 77.1
Ownership structure