Dividend policy
The Management Board intends to recommend to the General Meeting the distribution of dividends for the years ended December 31, 2010, 2011 and 2012, and that such dividends should amount to at least 30% of the consolidated net profit attributable to the shareholders of the Company as the parent company. However, the final amount of any proposed dividend is expected to take into account the liquidity and capital requirements of the Company’s and the TAURON Group’s business, particularly those related to the implementation of the investment program, and the actual amount of any dividend paid could be higher or lower than 30% of the consolidated net profit.
Over time, the Management Board intends to recommend to the General Meeting the distribution of a dividend equal to approximately 40% to 50% of the consolidated net profit attributable to the shareholders of the Company. The Management Board’s recommendations as to the distribution of dividends will be affected by the following factors: the amount of the net profit set forth in the Company’s unconsolidated financial statements, the current cost and availability of debt financing, the Company’s capital expenditure requirements, planned acquisitions and applicable law.
The Management Board’s recommendation on the distribution of dividends will also depend on the share of external financing in the Company’s overall equity. The Company’s dividend policy will be periodically reviewed by the Management Board, and decisions on the distribution of dividends will be made by the annual General Meeting.
Payment of dividend for 2010
to TAURON Polska Energia S.A. Shareholders
listed in the issuing agent’s register
In reference to Resolution No. 9 of Ordinary General Meeting of TAURON Polska Energia S.A. of 6 May 2011 on distribution of profit for 2010, use of reserve capital, determination of the amount that shall be distributed as dividend for the Shareholders and determination of the dividend record day and the dividend payment day, which determines the amount of the dividend for shareholders of TAURON Polska Energia S.A. and determines the dividend payment day at 20 July 2011, we hereby inform that the payment of dividend to the Company’s Shareholders included in the issuing agent’s register shall be handled by TRIGON Dom Maklerski S.A. brokerage house with its registered office in Krakow, ul. Mogilska 65.
Detailed information concerning the payment of dividend to the Company’s Shareholders included in the issuing agent’s register together with template documents (such as dividend payment order form, power of attorney form necessary to file an order to pay dividend) are available on the website of TRIGON Dom Maklerski S.A. brokerage house (
www.trigon.pl).
Should you have any questions or doubts, please contact TRIGON Dom Maklerski brokerage house – hotline +48 801 00 02 04 or if you are using a mobile telephone +48 12 38 48 058.