Grupa Azoty will not pay out dividends

Shareholders at Poland’s largest chemical and fertilizer company Grupa Azoty decided on Friday to not to pay out a dividend on its 2014 net profit amounting to PLN 214.6 million but earmark it for supplementary capital. In late May, the European Investment Bank (EIB) and the European Bank for Reconstruction and Development (EBRD) signed an agreement in line with which, the institutions will provide the Polish firm with a PLN 700 million (€170m) long-term financing facility. The financing provided by both institutions alongside with the funds from the supplementary capital may be essential for the project estimated to be worth PLN 1.67 billion, which ZCh Police, one of the companies included in the group decided to carry out.