PZU shareholders to vote on massive dividend payout

The is likely to end with each of the shareholder receiving zł.8.2 per controlled share. "We propose to take advantage of the highest limit encompassed in the dividend policies, which foresees the possibility to pay out up to 50% of the profit," said Cezary Stypułkowski, PZU president. The final decision is left to the State Treasury, which controls the largest packet of shares and if it agrees to the 50% figure then it would receive over zł.390 million while almost zł.219 million would go to the second largest shareholder, Dutch Eureko. The shareholders are more likely to vote for the massive payout being aware of the fact that despite another record high profit is forecast for 2005, the dividend will not be as high. The company plans to post another record net profit in 2005, up 15% to zł.2.52 billion. (Puls Biznesu, p. 5) A.K.