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The Warsaw Voice » Business » March 16, 2018
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PKN Orlen 2017 dividend
March 16, 2018   
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Listed major Polish fuel group PKN Orlen will recommend shareholders take PLN 3.00 per share in dividend from 2017 profit, management said in a market filing.
PKN Orlen would pay just over PLN 1.28 billion from PLN 6.10 billion in allocateable profits, a payout ratio of some 21%, the filing indicated. The remaining nearly PLN 4.82 billon would go to retained profits.
Rights would be set July 20 and payment made August 3 under the management proposal.
Against the PLN 91.70 share price prevailing ahead of the announcement, the offer renders a nearly 3.3% dividend yield.
The offer matches the prior year dividend per share (DPS). PKN Orlen paid then PLN 1.28 billion in dividend from 2016 profit, PLN 3 per share.
PKN Orlen claims a policy of offering higher DPS payouts each year. The policy was last maintained by company officials in late February when Orlen announced intention to take over rival Lotos.
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