PZU to spend 80% of 2017 profits on dividend - CEO

WSE-listed insurer PZU may pay up to 80 percent of its 2017 profits in dividend, company’s CEO Paweł Surówka said. For 2016 profits the pay-out stood at 62 percent. “This year is an exceptional one and responsible management should ensure preserving means for the takeover of Pekao and taking care of capital stability, despite the willingness to share profit with investors,” Surówka said. The PZU strategy assumes allocating up to 20 percent of profits to internal growth and up to 30 percent to dividends, and as no large transaction is looming, in 2018 PZU could forgo utilizing the M&A pool, Surówka explained.