The information shown below relates to the distribution of profits for the last few years.
On April 20, 2021, the Ordinary General Meeting decided to distribute the net profit for the financial year 2020, which amounted to PLN 8,095,100.04:
– to allocate the amount of PLN 6,006,300.04 to the supplementary capital of the Company
– allocate the amount of PLN 2,088,800.00 for the payment of dividends to shareholders; which means that the value of the dividend per share is PLN 0.07.
The dividend covered 29,840,000 shares of the Company. Planned date of establishing shareholders entitled to dividend: April 28, 2021, dividend payment date: May 7, 2021.
Adoption of the Dividend Policy
On February 26, 2021, the Management Board adopted a resolution on the adoption of the Company’s dividend policy.
- According to the assumptions, the Management Board, starting from the Company’s results for the financial year ending on December 31, 2020, the Management Board intends to recommend each time to the General Meeting the payment of dividends to the Company’s shareholders.
- The Management Board assumes that the basic and general assumption of the Dividend Policy is the payment of dividends by the Company in accordance with the amount of the profit generated by the Company and the Company’s financial capabilities, always subject to and compliance with applicable laws, which define restrictions on dividend payment, in particular restrictions resulting from provisions of the Code of Commercial Companies.
- In accordance with the adopted Dividend Policy, in the event that the Company generates a net profit for a given financial year, the Management Board will submit to the General Meeting a recommendation and a proposal for the distribution of the net profit, taking into account the allocation of part or all of the profit for dividend payment.
- The Management Board reserves and emphasizes that when formulating and submitting conclusions and recommendations regarding the payment of dividends in a given financial year, it will always take into account, inter alia, the following factors influencing the content of his application: (i) net result of the Company, (ii) general financial position and liquidity of the Company, (iii) existing and future liabilities of the Company (including, in particular, the existing and potential liabilities of the Company resulting from its investment policy ), (iv) assessment of the Company’s prospects in specific market and macroeconomic conditions, (v) necessity to spend funds in connection with the Company’s development, (vi) other known circumstances and one-off obligations, (vii) applicable legal regulations.
- The Management Board of the Company emphasizes and points out that pursuant to Art. 395 § 2 point 2) of the Commercial Companies Code, the sole body authorized to make the final decision on the distribution of the Company’s profit or coverage of the Company’s loss, including the one authorized to decide on the payment of dividends and its amount, is always the General Meeting, and the shareholders participating in it are in no way limited or bound by the conclusions and recommendations of the Management Board.
On July 27, 2020, the Ordinary General Meeting resolved to cover the net loss for financial year 2019 in the amount of 10,842,951.99 (ten million eight hundred forty two thousand nine hundred fifty one zlotys plus 91/100) in full with the company’s undivided profit from previous years and capital spare with agio.
On June 28, 2019, the Ordinary General Meeting decided that the company’s net profit for financial year 2018, in the amount of PLN 27,727.14 (twenty-seven thousand seven hundred and twenty-seven zlotys plus 14/100) would be allocated to the company’s supplementary capital.
On 8 June 2018, the General Meeting decided that the company’s net profit for financial year 2017, in the amount of PLN 1,451,555.31 (one million four hundred fifty one thousand five hundred and fifty-five zlotys plus 31/100) would be allocated to the supplementary capital.
On 29 June 2017, the General Meeting decided that the company’s net profit for financial year 2016, in the amount of PLN 1,091,563.09 (one million ninety-one thousand five hundred and sixty-three zlotys plus 09/100) would be allocated to the supplementary capital.
On 30 June 2016, the General Meeting decided that the company’s net profit for financial year 2015 would be allocated to the supplementary capital. On 30 June 2016, the General Meeting decided that the funds held in the supplementary capital would be earmarked to cover losses from previous years.
On 29 June 2015, the General Meeting decided that the company’s profit for financial year 2014, in the net amount of PLN 207,767.08 (two hundred seven thousand seven hundred and sixty-seven zlotys plus 08/100) would be entirely allocated to the supplementary capital.
On 30 June 2014, the General Meeting decided that the company’s profit for financial year 2013 in the net amount of PLN 1,482,663.86 (one million four hundred and eighty-two thousand six hundred thirty-three zlotys plus 86/100) would be entirely allocated to the supplementary capital.
On 1 July 2013, the General Meeting resolved that the profit of the company for the period of 1 January 2012 to 31 December 2012, in the amount of PLN 267,093,68, would be allocated entirely to the supplementary capital.