Ruch surprises shareholders with dividends

This was a significant surprise as the company's board recommended setting the funds aside for future investments. "We do not want to judge the actions of our owner [the State Treasury with 62%], however, we originally agreed with the issue prospectus' three-year investment program with no dividends. This decision by the Ministry is incoherent," said Adam Pawłowicz, president of Ruch. The ministry has not commented, and none of its representatives wish to reveal the reasons behind the decision. "This decision was a big surprise and a negative one for the company, as the ministry promised that Ruch would be restructuring and carrying out an investment program," said Paweł Burzyński, an analyst with DM BZ WBK. Pawłowicz claims that investments will not be threatened by the Ministry's decision as the firm has funds from last year's share issue. (Parkiet, p. 11; Puls Biznesu, p. 11; Rzeczpospolita, p. B3) M.M.