Stora Enso

Note 16 Shareholders' Equity

  Year Ended 31 December
EUR million 2003 2004
     
Share capital at 1 January 1 529.6 1 469.3
Cancellation of treasury shares (nominal value) -60.5 -47.3
Warrants exercised 0.2 1.3
Share Capital at 31 December 1 469.3 1 423.3
     
Full details of shares in issue are shown in Note 18 for the Group.
     
Share Issue (option rights) 1.7 -
     
Share premium fund at 1 January 4 945.2 4 630.2
Increase / (-decrease) -315.0 -223.7
Share Premium Fund at 31 December 4 630.2 4 406.5
     
Treasury shares at 1 January 314.9 258.0
Repurchase of own shares 319.1 198.6
Cancellation of shares -376.0 -275.8
Treasury Shares at 31 December 258.0 180.8
     
Reserve Fund 353.9 353.9
     
Retained earnings at 1 January 3 087.1 4 737.9
Dividends paid -387.7 -375.7
Acquisition of treasury shares -319.2 -198.6
Cancellation of treasury shares 376.0 275.8
Transfer - -0.3
  2 756.2 4 439.1
Profit for the period 1 981.7 121.1
Retained Earnings at 31 December 4 737.9 4 560.2
     
Total Shareholders' Equity 11 451.0 10 924.7
     
Distributable Funds    
Non-restricted equity 4 995.9 4 741.0
Treasury shares -258.0 -180.8
  4 737.9 4 560.2



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