PZU opts for record dividend, set to become holding

The record dividend could have been even higher but the motion to pay out zł.10 per share put forward by one of the shareholders was rejected by the Treasury Ministry - the largest PZU shareholder. All in all, the State Treasury will receive a dividend of over zł.390 million, while the Dutch Eureko holding, the second-largest PZU shareholder, will obtain zł.219 million. Moreover, it was revealed that PZU is to be transformed into a holding, which will make for an increase in efficiency and lower costs. According to PZU president Cezary Stypułkowski, the new company structure may mean a decrease in costs by around zł.500 million annually and an increase in revenues by as much as zł.1 billion. The plan already received support from two main shareholders. (Parkiet, p. 1; Puls Biznesu, pp. 1, 7) E.B.