The Management Board of KGHM Polska Miedź S.A. (“the Company”) announces that on 23 May 2022 it adopted a resolution in respect of which it will submit a proposal to the Ordinary General Meeting of KGHM Polska Miedź S.A. to adopt a resolution on the appropriation of profit for 2021, in the amount of PLN 5 169 153 267.61, by:
- paying out a dividend in the amount of PLN 600 000 000.00 (PLN 3.00 per share),- transferring the amount of PLN 4 569 153 267.61 to the Company’s reserve capital.
Moreover, the Management Board of KGHM Polska Miedź S.A. proposes that the Ordinary General Meeting of KGHM Polska Miedź S.A. set the dividend date at 7 July 2022 and the dividend payment date at 14 July 2022.
The recommendation of the Management Board of KGHM Polska Miedź S.A. results from an assessment of the current financial capacities of the Company, and takes into consideration the advancement of the program of investments as well as the current and anticipated conditions on the commodity market. It is compliant with the existing Dividend Policy of KGHM Polska Miedź S.A., which provides for a balance to be maintained between the level of dividends paid out and opportunities to effectively invest the Company’s funds given the current level of debt of the KGHM Polska Miedź S.A. Group.
The above proposal of the Management Board was positively reviewed by the Supervisory Board of the Company.
The final decision regarding the appropriation of KGHM Polska Miedź S.A.’s profit for 2021 will be made by the Ordinary General Meeting of KGHM Polska Miedź S.A.
Legal basis: Art. 17 (1) of MAR (Regulation (EU) No 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse (market abuse regulation) and repealing Directive 2003/6/EC of the European Parliament and of the Council and Commission Directives 2003/124/EC, 2003/125/EC and 2004/72/EC (Official Journal of the European Union dated 12 June 2014, no. L 173/1).