Increase in profits translates into regular dividends at TIM

TIM declared that each year it would pay out a dividend, unless it threatened the firm's steady development. In such cases the money earmarked for a dividend would be allocated to the dividend fund. The company's president, Krzysztof Folta, assured that this dividend policy will not collide with the firm's investment plans. "Over the next two to three years we do not plan any new investments anyway," he said during a press conference. In the first eight months of the year TIM's net profit increased by 42.4%, as compared to the same period of 2004. In H1, net profit amounted to zł.5.35 million, which made the management board in troduce corrections to the projections for the year 2005. The new prognosis envisages a net profit of zł.15 million, and zł.250 million in sales r evenues. (Parkiet, p. 4) A.F.