YIT - Decisions of general meeting

Resolutions passed at the Annual General Meeting of YIT Corporation

Helsinki, 2014-03-18 11:00 CET (GLOBE NEWSWIRE) -- YIT CORPORATION       STOCK
EXCHANGE RELEASE  MARCH 18, 2014 AT 12:00 NOON 



RESOLUTIONS PASSED AT THE ANNUAL GENERAL MEETING OF YIT CORPORATION



The Annual General Meeting of YIT Corporation held today, March 18, 2014,
adopted the 2013 financial statements and discharged the members of the Board
of Directors and the President and CEO from liability. The Annual General
Meeting decided on the dividend payout, composition of the Board of Directors,
the election of the auditor and its fees as well as authorising the Board of
Directors to decide on the purchase of company shares. 



Dividend payment



It was decided that a dividend of EUR 0.38 be paid per share, or a total of EUR
47.7 million, as proposed by the Board of Directors, and that the remainder of
the earnings be retained in distributable equity. No dividend will be paid on
treasury shares. The right to a dividend rests with a shareholder who, by the
record date of March 21, 2014, has been entered as a shareholder in the
company's shareholder register maintained by Euroclear Finland Ltd. It was
decided that the dividend will be paid on March 28, 2014. 



Composition of the Board of Directors and their fees



The Annual General Meeting resolved to elect a Chairman, Vice Chairman and four
ordinary members to the Board of Directors, namely: Reino Hanhinen as Chairman,
Kim Gran as Vice Chairman and Satu Huber, Erkki Järvinen, Juhani Pitkäkoski and
Teuvo Salminen as members. 



It was resolved to pay the Board of Directors remuneration as follows: the
Chairman EUR 6,600 per month (EUR 79,200 per year), the Vice Chairman EUR 5,000
per month (EUR 60,000 per year) and the Board members EUR 3,900 per month (EUR
46,800 per year),as well as an attendance fee of EUR 550 per meeting. In
addition, the members of Board Committees are paid an attendance fee of EUR 550
for each committee meeting. Per diems for trips in Finland and abroad are paid
in accordance with the state's travel compensation regulations. 



Election of the auditor and their fee



PricewaterhouseCoopers, Authorised Public Accountants, was elected as the
company's auditor, with Heikki Lassila, Authorised Public Accountant, as chief
auditor. The auditor's fees will be paid against the invoices approved by the
company. 



Share buyback



The Annual General Meeting authorised the Board of Directors to decide on the
purchase of company shares as proposed by the Board of Directors. The
authorisation covers the purchasing of a maximum of 10,760,000 company shares
using the company's unrestricted equity. The authorisation is valid until March
31, 2015. 



The authorisation reverses the authorisation to purchase the company's own
shares issued by the Annual General Meeting on March 15, 2013. 



Other information



On March 18, 2014, the total number of YIT shares is 127,223,422 and YIT holds
1,635,494 of its own shares. 



The minutes of the Annual General Meeting will be available on the Internet at
the company's website www.yitgroup.com by April 1, 2014, at the latest. 



For additional information, please contact:

Juha Jauhiainen, Corporate General Counsel, YIT Corporation, +358 40 725 9643,
juha.jauhiainen@yit.fi 



YIT CORPORATION



Sanna Kaje

Vice President, Investor Relations



Distribution: NASDAQ OMX, principal media, www.yitgroup.com



YIT is a construction industry leader. We create better living environments in
Finland, Russia, the Baltic countries, the Czech Republic and Slovakia. Over
100 years of experience have secured for us a strong market position: We are
the largest housing developer and one of the largest business premises and
infrastructure developers in Finland, and the most significant foreign housing
and area developer in Russia.  Our vision is to stay one step ahead - while
caring for our customers, partners and personnel. We have more than 6,000
employees in seven countries. In 2013, our revenue amounted to nearly EUR 1.9
billion. Our share is listed on Nasdaq OMX Helsinki. www.yitgroup.com