12. EARNINGS PER SHARE  
The undiluted earnings per share figure is calculated by dividing the profit for the financial year attributable to the parent company's shareholders by the weighted average number of shares outstanding during the financial year. When calculating the earnings per share adjusted by dilution, the weighted average of the number of shares takes into account the diluting effect resulting from changing into shares all potentially diluting shares. The Group has had share options which have a diluting effect when the subscription price of the options is lower than the fair value of the share because with the funds obtained from the exercising of the options the Group could not issue the same number of shares at fair value. The fair value of the share is based on the weighted average price of the shares in trading.  
 1.1. - 31.12.1.1. - 31.12.
 20052004
Profit for the financial year, EUR mill.61.425.6
Weighted average number of shares, 1000s84,24584,328
Undiluted earnings per share, EUR0.730.30
When calculating diluted earnings per share the number of shares is adjusted for the effect of convertible loans, share options and own shares.  
Profit for the financial year, EUR mill.61.425.6
Weighted average number of shares, 1000s88,15086,758
Effect of convertible loan00
Effect of share options-6730
Effect of own shares-431-211
Weighted average number of shares, diluted 1000s87,04686,547
Diluted earnings per share, EUR0.710.30
A convertible bond has been paid off in full on 2 September 2004.  
The Finnair Group introduced the IAS 32 and IAS 39 standards on 1 January 2005. As a result of the introduction of the standards the company has valued financial instruments at fair value. The introduction of the standards has been estimated to have an effect of 0.80 euros on undiluted earnings per share and 0.80 euros on the diluted earnings per share. As stated in the accounting principles, in the introduction of IAS 32 and IAS 39 standards no comparison data has been changed to correspond with the IAS 32 and IAS 39 standards.  
Dividend  
The dividend paid in 2005 and 2005 was 8.5 million euros (0.10 euros per share). The Board of Directors proposes to the Annual General Meeting that a dividend of 0.25 euros per share be paid, i.e. a total of 21.7 million euros. These financial statements do not include this dividend distribution liability.