Municipality Finance Plc
Stock exchange release
25 March 2025 at 1:00 pm (EET)
Resolutions by the Annual General Meeting of Municipality Finance Plc held on 25 March 2025
The Annual General Meeting (hereinafter the AGM) of Municipality Finance Plc (MuniFin) held on 25 March 2025 adopted the company’s financial statements and discharged the members of the Board of Directors (the Board), the CEO, and the Deputy to the CEO from liability for the financial year 2024.
Use of Profit Shown on the Balance Sheet and the Distribution of Dividend
The Annual General Meeting decided that a dividend of EUR 1.86 per share, totaling 72,658,664.28Â EUR shall be paid out. Dividends will be paid on 3 April 2025 or as soon as possible thereafter to each shareholder who is registered in the company’s shareholder register maintained by Euroclear Finland Ltd on the record date of dividend payment on 27 March 2025.
Remuneration and Composition of the Board
The AGM decided on the remuneration for the members of the Board for the term from the closing of the 2025 AGM to the closing of the next AGM (the Term 2025–2026) as follows:
- annual fixed remuneration of the Chair of the Board EUR 51,000;
- annual fixed remuneration of the Vice Chair of the Board EUR 33,000;
- annual fixed remuneration of the Chair of the Risk or Audit Committee EUR 36,000;
- annual fixed remuneration of a Board member EUR 28,000 and
- for each Board and committee meeting as well as for each meeting required by the authorities, for the members and Vice Chair of the Board, a fee of EUR 600 per meeting attended and for the chairs, EUR 950 per meeting attended.
The annual remuneration of the Chair of the Board was increased by EUR 6,000, the annual remuneration of the Vice Chair of the Board was increased by EUR 4,000, the annual remuneration of the Chairs of the Risk and Audit Committees was increased by EUR 5,000 and the annual remuneration of a Board member was increased by EUR 3,000. No amendments were made to the meeting fees.
The AGM decided to elect nine members to the Board for the Term 2025–2026 and to re-elect the following current members: Ms. Maaria Eriksson, Mr. Kari Laukkanen, Mr. Tuomo Mäkinen, Ms. Elina Stråhlman, Ms. Leena Vainiomäki and Mr. Arto Vuojolainen. In addition, the AGM decided to elect Ms. Liisa Harju, Mr. Juho Malmberg and Mr. Henrik Rainio as new board members.
The CEO’s Review
Esa Kallio, the President and CEO of MuniFin, discussed the company’s development in 2024. There are currently many uncertainties in the world, and therefore it is important that MuniFin can provide stability and ensure the security of supply for the Finnish society through its operations. The year 2024 was a record year for MuniFin’s sustainable finance: the company issued a record number of sustainable bonds, and the demand for green finance grew significantly.
Election and Remuneration of the Auditor
PricewaterhouseCoopers Oy was elected as the company’s auditor with Jukka Paunonen, Authorized Public Accountant, as the principal auditor. The auditor’s fees will be paid against the invoices approved by the company.
Election and Remuneration of the Sustainability Reporting Assurer
PricewaterhouseCoopers Oy was selected as the sustainability reporting assurer, with Tiina Puukkoniemi as the responsible sustainability reporting auditor. The assurer’s fees will be paid against the invoices approved by the company.
Constitutive Meeting of the Board
At its constitutive meeting, the Board appointed Kari Laukkanen as the Chair and Maaria Eriksson as the Vice Chair of the Board. The following persons were appointed to the Remuneration Committee: Kari Laukkanen as the Chair, and Leena Vainiomäki, Maaria Eriksson and Tuomo Mäkinen as members. The following persons were appointed to the Audit Committee: Elina Stråhlman as the Chair, and Liisa Harjula, Kari Laukkanen and Henrik Rainio as members. The following persons were appointed to the Risk Committee: Leena Vainiomäki as the Chair, and Maaria Eriksson, Juho Malmberg and Arto Vuojolainen as members.
Additional information on the company’s operations in 2024 is available in the company’s Annual Report, which is available for downloading in PDF format at the company website www.munifin.fi.
MUNICIPALITY FINANCE PLC
Esa Kallio
President and CEO
tel. +358 50 337 7953
MuniFin (Municipality Finance Plc) is one of Finland’s largest credit institutions. The owners of the company include Finnish municipalities, the public sector pension fund Keva and the State of Finland. The Group’s balance sheet is over EUR 53 billion.
MuniFin’s customers include municipalities, joint municipal authorities, wellbeing services counties, joint county authorities, corporate entities under the control of the above-mentioned organisations, and affordable social housing. Lending is used for environmentally and socially responsible investment targets such as public transportation, sustainable buildings, hospitals and healthcare centres, schools and day care centres, and homes for people with special needs.
MuniFin’s customers are domestic, but the company operates in a completely global business environment. The company is an active Finnish bond issuer in international capital markets and the first Finnish green and social bond issuer. The funding is exclusively guaranteed by the Municipal Guarantee Board.
Read more: www.munifin.fi
