Dividend from profit earned in 2021 approved by Annual General Meeting
On 12 May 2022 the Annual General Meeting of the Bank allocated PLN 2 287 500 000 as a dividend, representing PLN 1.83 gross per each share.
The AGM set the following dates:
- the dividend date: 4 August 2022,
- the dividend payment date: 23 August 2022.
All of the Bank’s shares, i.e. 1,250,000,000 are entitled to the dividend.
The objective of the Dividend policy is to optimize the capital structure of the Bank and the Bank's Group, while considering the return on equity, the cost of capital and the capital needs for development, and maintaining an appropriate level of the capital adequacy ratios.
The Dividend policy takes into account the Bank’s intention to provide stable dividend payments in the long term, in accordance with the principle of prudent management of the Bank and the Bank's Group.
In line with the adopted Dividend policy, an additional tool for capital redistribution is the purchase of own shares aimed at their redemption, which may be carried out when the book value of shares is higher than their current market price, and only after obtaining the required approval of the PFSA.
The conditions for the Bank's ability to pay dividends have been adjusted according to the PFSA’s requirements in the Recommendation Z. These requirements also apply to the purchase of own shares by the Bank.
1) Loss resulting from changes in the assessment methodology and quantification of the legal risk related to the intention of signing agreements with consumers by PKO Bank Polski S.A. who concluded with PKO Bank Polski S.A. loan agreements or mortgage-secured loans indexed to foreign currencies or denominated in foreign currencies and establishment of a special fund to cover the specific balance sheet losses that arise from recognizing the financial effects of the settlements with consumers
2) Net profit for distribution incl. the bank's net profit for the year 2014 (PLN 3 079 471 000) and unappropriated profits (PLN 132 793 000)
3) Net profit for distribution incl. the bank's net profit for the year 2013 (PLN 3 233 762 000) and unappropriated loss of previous years (PLN -271 242 000)
4) Net profit for distribution incl. the bank's net profit for the year 2012 (PLN 3 592 617 000) and unappropriated profits (PLN 88 533 000)
Source: Current reports of PKO Bank Polski S.A.
