PGE to recommend dividend payment at 50pct of net profit
March 15, 2013
Power utility PGE will recommend its shareholders a dividend payment of 50% of attributable net profit for 2012, i.e. PLN 1.608 billion or PLN 0.86 per share, the company said in an annual report.
The company will allocate to the dividend payment the whole stand-alone profit plus a portion of retained profits, the company said.
PGE's dividend policy assumes sharing 40-50% of the consolidated net profit.
Last year PGE passed PLN 1.83 dividend per share from 2011 profit of PLN 4.556 billion, above the management board's recommendation for PLN 1.32 DPS.