Tauron will not pay out dividend

Poland's second biggest power group Tauron will not pay out PLN 0.1 dividend per share, with shareholds voting down a management recommendation, the Polish Press Agency informed. "The shareholders' decision will certainly not be harmful for the company - on the contrary, today we are in a situation in which all means that stay in the company will be useful," Tauron's CEO Remigiusz Nowakowski told reporters. On Wednesday, the CEO maintained earlier declarations that once Tauron is back on a growth trend, it will return to sharing profits with shareholders every year. "We have declared it from the very beginning and nothing has changed in this respect," he said. In a March 10 recommendation, Tauron proposed payout of PLN 175.3 million in dividend or PLN 0.1 per share from retained earnings from previous years. In 2015 Tauron reported a net loss of PLN 1.8 bln.