The Management Board’s recommendation on payment of dividend

Monday, 16 March, 2015
4/2015

On 16 March 2015, the Management Board of KGHM Polska Miedź S.A. adopted a resolution on the basis of which it will recommend to the Ordinary General Meeting of KGHM Polska Miedź S.A.
a proposal to pay  cash dividend in the amount of PLN 800 000 thousand (or PLN 4.00 per share).

In developing this recommendation, the Management Board took the following into consideration:

  • the principles of the adopted Dividend Policy;
  • the level of capital expenditures in the Group which must be incurred to meet the targets set forth in the Company Strategy for the years 2015 – 2020; and
  • a safe level of debt.

Moreover, the Management Board of KGHM Polska Miedź S.A. will make the following proposal to the Ordinary General Meeting of KGHM Polska Miedź S.A. with regard to dividend dates:

  • a dividend date (the day on which the right to dividend is set) - 27 May 2015;
  • the day on which the first instalment on the dividend is paid in the amount of PLN 2.00 per share -18 June 2015; and
  • the day on which the second instalment on the dividend is paid in the amount of PLN 2.00 per share - 19 October 2015.

The above Management Board recommendations were positively reviewed by the Supervisory Board of KGHM Polska Miedź S.A. 

The ultimate decision concerning KGHM Polska Miedź SA’s profit distribution will be made by the Ordinary General Meeting of KGHM Polska Miedź S.A.

Legal basis: § 38 sec. 1 point 11 of the Decree of the Minister of Finance dated 19 February 2009 regarding current and periodic information published by issuers of securities and conditions for recognising as equivalent information required by the laws of a non-member state (unified text: Journal of Laws 2014.133)