The PZU Board recommend paying PLN 2.80 dividend per share from 2018 profits, bringing the total payout to PLN 2.42 bln.
Dividend yield, as calculated against PZU’s closing price on Tuesday, comes to 6.65%. Rights will be set on 14August, and the payment made on 5 September, PZU added of the details of the proposal, which has already secured positive opinion from the company’s supervisory board.
Mid-March PZU CEO Paweł Surówka maintained earlier declarations that PZU hoped to pay a higher dividend per share from 2018 earnings as compared with last year’s payout.
PZU paid PLN 2.5 DPS from 2017 earnings translating into a PLN 2.16 bln dividend payout. PZU increased its net take by 11% in 2018, to PLN 3.21 bln.
PZU’s dividend policy assumes dividend payments at 50 to 80% of consolidated profits while holding group solvency over 200%, according to an updated strategy to 2020, published in January 2019.
