PZU approves PLN 1.8 bln dividend payout

Shareholders at PZU, Poland's biggest state-controlled insurer, decided on Tuesday that the company will pay out last year's dividend of PLN 2.08 a share, in line with PZU's plans. The total dividend of the firm is valued at PLN 1.8 billion. The handout is also in line with Eastern Europe's largest insurer's policy of paying out 50-100 percent of its profit as dividend. The group, which closed 2015 with a net profit of PLN 2.34 billion, plans to unveil a new policy soon, aimed at cost cuts, investments, and innovations, Reuters informed. In 2015, PZU paid a dividend of PLN 30 a share (PLN 2.59 billion in total).