Morawiecki: Poland's utilities should retain higher portion of profits for investments

Polish power companies should retain a larger portion of profits for dividends, and Poland should consider adopting a long-term dividend policy towards state-controlled firms, deputy Prime Minister Mateusz Morawiecki told radio broadcaster Trójka. "From an investment point of view it makes more sense to retain a larger portion of means for investment requirements," Morawiecki said when asked about the dividend policy towards state-controlled firms. "This especially concerns the power sector." Poland should consider adopting a mid-to-long-term dividend policy towards state-owned companies and ponder what portion of profits should be directed to dividends and what portion to investments, Morawiecki added. "I would like this proportion to be balanced from the point of view of the capital market, but with a significant part [of profits] to be directed to investments," he said. One should remember that in the case of companies where Poland holds only a ca. 30 percent stake, a large portion of the dividend stream is directed to well-off foreign entities such as various funds or investment banks, Morawiecki noted.