PKN Orlen to pay out generous 2004 dividend

After Q3 the earnings of the group amounted to zł.1.8 billion. "Due to investment needs this amount of dividend would be acceptable if Orlen disposed of shares in Polkomtel. At the same time this is great news for the shareholders. It should boost the company's share price," said Sebastian Słomka, an oil sector analyst with bank PKO BP. In his opinion, the net profit of Orlen may exceed the forecast of zł.2 billion and amount to zł.2.3-2.4 billion. Chalupec announced that Orlen expected cash as compensation for planned decrease in its share in Naftoport, which is demanded by the state. The general shareholders meeting gave up the idea of changing the composition of the supervisory board and decided that, as of 2005, the firm will prepare individual financial reports in accordance with international accounting rules. (Puls Biznesu, pp. 1, 10) M.M.