Stora Enso makes changes to dividend payment

Due to the unprecedented situation caused by the Covid-19 pandemic and its impact on trading conditions, the Board of Directors has decided to change its dividend proposal to the Annual General Meeting and proposes that a dividend of EUR 0.15 per share be distributed for the year 2019. The dividend is planned to be paid on or about 15 June 2020. In addition, it is proposed that the Annual General Meeting would authorise the Board of Directors to decide at its discretion on the payment of dividend up to a maximum of EUR 0.35 per share to be distributed in one or several instalments at a later stage when it is possible to make a more reliable estimate on the impacts of the Covid-19 pandemic on Stora Enso's business and liquidity. The authorisation would be valid until the next Annual General Meeting.

Well, technically this is not a dividend cut...yet, if they pay the other installments during this year.