The Management Board’s recommendation regarding the coverage of loss for 2016 and dividend payout in 2017

Thursday, 11 May, 2017
7/2017

On 11 May 2017, the Management Board of KGHM Polska Miedź S.A. adopted a resolution in which it recommends that the Ordinary General Meeting of KGHM Polska Miedź S.A. covers the loss for financial year 2016 in the amount of PLN 4 084 550 199.31 from the Company’s reserve capital and that it adopts a resolution on the dividend payout in the amount of PLN 200 000 000 (or PLN 1.00 per share) from the Company’s reserve capital in that part arising from profit.

In developing its recommendation, the Management Board mainly took into consideration the financial condition of the KGHM Polska Miedź S.A. Group.

The Management Board of KGHM Polska Miedź S.A. recommends the following dividend payment dates:

A dividend date (the date on which the right to dividend is set) of 14 July 2017.

Dividend payment dates:

1st instalment on 17 August 2017: PLN 100 000 000.00;

2nd instalment on 16 November 2017: PLN 100 000 000.00.

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

The final decision regarding the dividend payout 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)