On 15 December 2022, the Management Board has made a decision to withdraw from the application of the existing "Dividend Policy for years 2020-2023", the adoption of which was announced by the Company in Report No. 44/2019 dated 9 December 2019, and adopted in its place a new dividend policy for years 2023 - 2025 (hereinafter, the "Dividend Policy"), which was approved by the Company's Supervisory Board, with the following wording:
Dividend Policy for years 2023-2025
In each year that the Dividend Policy is in effect, the Company's management board will recommend to the general meeting that a dividend of at least 60% of the consolidated net income of the Company's group for the preceding fiscal year be paid, excluding positive or negative unrealized foreign exchange differences recognized during the period. The recommendation of the management board referred to above will take into account the financial and liquidity situation, development prospects and investment needs of the Company and the Company's capital group.
The Dividend Policy will be subject to periodic review and is effective and applicable starting from the distribution of profit for the fiscal year ending on 31 December 2022.
Previously biding Dividend Policy for years 2020-2023
In each year of the Dividend Policy, the Management Board will recommend it to the General Meeting to pay out a dividend with the value representing at least 50% of the consolidated net profit of the capital group of the Company for the preceding financial year. The Management Board’s recommendation will take into account the financial and liquidity situation, the development prospects and investment needs of the Company and of the capital group of the Company.
|The dividend from the profit for the year||Consolidated net profit (thousands of zloty)||Profit allocated on the payment of a dividend (thousands of zloty)||Dividend value per share (PLN)||Date of granting the dividend right||Dividend payment date|
* Purchase of own shares at a premium in accordance with the aforementioned Dividend Policy