On 24 May 2019 PZU’s Ordinary Shareholder Meeting was held. PZU’s shareholders approved PLN 2.8 dividend per share from 2018 profits, translating into a total payout of PLN 2.42 bln. The shareholders’ decision matches the earlier recommendation of the management board.
The shareholders decided that PZU will allocate to dividend ca. 89% of its 2018 standalone net profit. PZU will also put PLN 287 mln to retained earnings and PLN 7 mln to the company’s social benefits fund. Rights will be set on August 14 and the payout made on September 5.
PZU increased its net take by 11% in 2018 to PLN 3.21 bln. The company paid PLN 2.50 DPS from 2017 earnings translating into a PLN 2.16 bln dividend payout.
PZU’s dividend policy assumes dividend payments at 50-80% of consolidated profits while holding group solvency above 200%, according to an updated strategy to 2020 published in January last year.
Moreover, PZU CEO Paweł Surówka said that PZU was planning to present a new strategy in 2020, likely running until 2025. „Next year we will want to present a new strategy whose timeframe will probably extend to 2025,” Surówka said.
