Frequently asked questions about Elisa share

Additional information about shares of companies merged into Elisa on our website (in Finnish) ›

When will Elisa pay dividend to its shareholders? In accordance with the proposal of the Board of Directors, Elisa’s Annual General Meeting decided to pay a dividend of EUR 1.85 per share based on the adopted financial statements 2019. The dividend is paid to the shareholders registered in the company’s share register maintained by Euroclear Finland Ltd on 6 April 2020. The dividend is paid on 15 April 2020. 

Why have I not received Elisa's dividend? Dividends are paid automatically in the book-entry system. If you have not received dividend, you may ask your book-entry account registrar (usually the account is in a bank), if you have sold the shares.

When will dividends be paid for shares exchanged after a merger (for instance, Telekarelia or Kymen Puhelin shares, which were only recently exchanged for Elisa shares)? Shares exchanged afterwards and dividends to be paid for them for past financial periods will be handled through the custodian, i.e. the account operator, for each shareholder.

The account operator will seek the payment of dividends for past financial periods that are valid for paying dividends by making a balance request. According to the schedule of Euroclear Finland, this can be done during the month following the share exchange registered afterwards.

The issuer’s payment forwarding bank will deliver the balances to account operators to be further paid to custody clients once a month, during the first month after the share exchange at the earliest.

Due to the schedules of the different account operators, the entire process may take several weeks.

Dividends will expire three years after the due date, i.e. the first day on which the dividend can be withdrawn. Unpaid dividends older than this cannot be obtained any more.

How can I sell my Elisa shares? Does Elisa purchase its shares? Your book-entry account registrar (usually the account is in a bank) may sell your shares. The registrar gives your further guidance of the required documents.

At the moment Elisa does not purchase its own shares.

How to calculate the acquisition price of Elisa shares in the tax return? The actual purchase price or deemed acquisition cost of shares or the Membership Certificate can be deducted from the sale price of the shares. The deemed acquisition cost is 20% of the sale price of the shares or the Membership Certificate in case the ownership has lasted for less than 10 years, and 40% of the sale price if the ownership has lasted 10 years or more, including the date of selling the shares.  For example, when the sale price of the shares is EUR 1,200, the deemed acquisition cost 20% is EUR 240 and the capital gain EUR 960, of which the capital gains tax of 28% is withheld (in 2014 capital gains tax is 30% up till EUR 40,000 and 32% beyond this). Naturally, it pays off to calculate case-specifically in which way the capital gains tax is more favourable. For further information on taxation, browse the tax administration site: http://www.vero.fi/default.asp?language=ENG&domain=VERO_ENGLISH

The purchase prices of Helsinki Telephone Association's Membership Certificate since 1996:

1 Jan 1966  FIM 1200  i.e. EUR 201,83 or EUR 1,35 /current share
1 Dec 1971 FIM 1500 i.e. EUR 252,28 or EUR 1,68 /current share
28 Nov 1973 FIM 1850 i.e. EUR 311,15 or EUR 2,07 /current share
27 Nov 1974 FIM 2250 i.e. EUR 378,42 or EUR 2,52 /current share
25 Nov 1975 FIM 2750 i.e. EUR 462,52 or EUR 3,08 /current share
1 Dec 1981 FIM 3650 i.e. EUR 613,89 or EUR 4,09 /current share
27 Nov 1985 FIM 4250 i.e. EUR 714,80 or EUR 4,77 /current share
26 Nov 1986 FIM 4700 i.e. EUR 790,48 or EUR 5,27 /current share
2 Apr 1991 FIM 5500 i.e. EUR 925,03 or EUR 6,17 /current share

No new Membership Certificates have been issued since January 1998.

Private individuals could have acquired Helsinki Telephone E shares in a number of ways. They could have purchased them through normal stock trading or subscribed for them in the share issues of 1997 and 1998. In the membership issue of 1997 the members of Helsinki Telephone Association were entitled to subscribe for 10 Helsinki Telephone shares per Membership Certificate. The subscription price in the issue was FIM 55 per share. It was also possible to subscribe for more shares than a member's number of Membership Certificates entitled to. In such case, the subscription price was FIM 85. The subscription price in the employee offering organised in the same context was FIM 77. In the 1998 share offering, the subscription price was FIM 215. The E shares of Helsinki Telephone were converted to Elisa shares by using the conversion rate of 2.16204.

Example #1
A private individual has bought a Helsinki Telephone Association Membership Certificate in 1980, and paid FIM 2,750 for it. The actual purchase price is thus EUR 3.08. The person sold 150 shares for EUR 8.00 ß piece on 10 October 2003.

The first method: The actual purchase price: The capital gain is EUR 8.00-3.08= EUR 4.92 per share, i.e. EUR 738 for the whole lot of shares. The tax is 30% of the total capital gain, i.e. 30% x 738=EUR 221.40.

The second method: Deemed acquisition cost: The Membership Certificate has been bought more than ten years before the selling date. 40% of the sale price can be used as deemed acquisition cost, in other words, 40% x 8.00=EUR 3.20. The capital gain is thus EUR 4.80 per share, i.e. EUR 720 per the whole instalment of shares. The tax is 30% x EUR 720, i.e. EUR 216.00.

Using the deemed acquisition cost method in our example means more favourable taxation.

Example # 2:
In the 1997 IPO, a private individual subscribed for 10 shares ß FIM 55 per share, which is FIM 550 in total. When translated this into current shares, 10 old E shares is 10 x 2.16204, i.e.  21 shares. Their acquisition cost is therefore FIM 550, i.e. EUR 92.50, which is EUR 4.40 per share. For example, if the individual sold his shares for EUR 8.00 per share on 10 October 2003, the capital gain can be calculated in two ways.

The first method: The actual acquisition price is used; the capital gain is then EUR 8.00-4.40= EUR 3.60 per share. In this case, EUR 75.60 per 21 shares. The capital gains tax payable is 26% x 75.60=EUR 19.66.

The second method: The 20% deemed acquisition cost is used. The ownership period of the shares is less than ten years. In this case the deemed acquisition cost is 20% x 8.00= EUR 1.60. By using this calculation method, the capital gain is then EUR 8.00-1.60= EUR 6.40 per share, i.e. 6.40 x 21= EUR 134.40 for the shares. The tax would amount to EUR 34.94.

In this example, using the actual acquisition price will be more favourable in taxation.

What is the taxable value of an Elisa share? The taxable value of an Elisa share in the 2005 tax return is EUR 10.93. In the year 2004 taxation the taxable value was EUR 8.33. In the beginning of 2006 the property tax was discontinued.

What is my book-entry accounts' number? In which book-entry account is my Elisa shares? Who should I inform if I have a new book-entry account or bank account? Elisa does not know its shareholders' book-entry account or bank account numbers (banking secrecy). Your book-entry account registrar has the information. E.g. dividends are paid automatically in the book-entry system.

The book-entry accounts registrars send its customers yearly a statement of the account (account number, administrated shares, and current value).

Are Elisa's shares in the book-entry system? Shares can be transferred to book-entry account. When does the transfer's possibility end? All Elisa's shares are in the book-entry system.

Additional information about shares of companies merged into Elisa on our website (in Finnish) ›

What is a book-entry system and a book-entry account? Book-entry is a system of tracking ownership of securities (e.g. shares). Shares can be sold and purchased in the system. In Finland the system is administered by Euroclear Finland.

Book-entry account is an account having the shareholder's shares in an electronic form. The account can be in a bank or in another registrar.

Why the Customer Account Services at the Finnish Central Securities Depository (Euroclear) were terminated on 28 February 2019? Finnish Central Securities Depository’s Customer Account Services is discontinued due to a change in the Finnish law on the book-entry system and securities settlement.

As a consequence, those investors who had a book-entry account directly at the Finnish Central Securities Depository had to transfer their account to another account operator, such as a Finnish commercial bank.

The Finnish Central Securities Depository Euroclear Finland sent a letter to those investors expected to take an action. The transfer of the account could only be performed by the receiving bank upon a request from the investor.

If you have any further enquiries about the transfer of your book-entry account, please contact a Finnish commercial bank offering account operator services in Finland. More information can also be found at http://www.euroclear.com/atp-en  


Have I been left out of any shares in a bonus issue? In the 1997 autumn issue the members of Helsinki Telephone Association were entitled to subscribe for 10 Membership Certificates FIM 55 per certificate. Additional shares were on subscription for FIM 85. In the share issue of the summer 1998 the subscription price was FIM 215 per share. A bonus issue, or free shares, has not been organized, not in connection with the merger or previously.

How many shares could a person receive for one Membership Certificate of Helsinki Telephone Association? What is its value nowadays? Helsinki Telephone's Membership Certificate was converted into 150 A Shares of Elisa (former HPY Holding). The value of these shares is determined daily in accordance with the share performance. For instance, Elisa's share performance is available here and http://www.hex.com/eng/marketinfo/index_equities.htm

I have some Elisa shares in my possession. Where can I change my address? You can change your address by informing your book-entry account registrar, e.g. your bank, which will then forward your new details to the book-entry register.

Do you have any speculations about Elisa's share performance? The company cannot speculate its share performance. Our task is to take care that through our management, decision-making and our own operative actions we see to that investors want to invest in our shares in the future too. Contact data of a number of investment analysts monitoring Elisa is posted on our website and you can consult these analysts for their opinion of the market situation.

What will happen to my fixed telephone subscription if I sell my shares? Helsinki Telephone Association's Membership Certificate and membership subscription were completely separated from each other with effect from 1 September 1998. At the same time, a Membership Subscription changed into a Basic Subscription. This meant that the Membership Certificate, and later Elisa's shares, could be sold without this having any effect on the subscription's basic charges and operations.