A little capital-structure buffet
F-Secure’s board is rolling out the whole shareholder menu at once: a dividend proposal, a buyback authorization, and a share-issuance authorization. That’s a lot of corporate housekeeping for one notice, but the message is pretty clear — the company is trying to balance returning cash with keeping enough flexibility to deal with acquisitions, incentives, and its balance sheet.
The dividend gets the nod, but leverage is the referee
The board wants the 2026 Annual General Meeting to approve a dividend of EUR 0.04 per share. Management notes that F-Secure’s leverage is sitting at 2.8x, above its 2.5x target, which helps explain why the payout is relatively modest. In other words: the company is still willing to hand over cash, just not enough to make the balance sheet start sweating.
Buybacks on the table, dilution too
The proposal would let the board repurchase up to 10 million of its own shares, or about 5.72% of the company. That kind of authorization can support capital returns, offset dilution, or fund incentive programs. But there’s a matching twist: the board also wants permission to issue or convey up to 17 million shares, roughly 9.73% of the total. So yes, shareholders get the buyback carrot — but also the dilution stick.
Big picture: flexibility is the headline
For investors, this isn’t a flashy growth story. It’s more of a “keep the gears moving” update, with the board preserving room to maneuver on M&A, incentives, and capital structure. The dividend supports the cash-return narrative, while the issuance authority is a reminder that future share count still has some wiggle room.