The zł.5 billion dividend payout bonanza

This year the amount will be record high as it is estimated that companies will pay out zł.5 billion, twice as much as in 2004. Shareholders, as well as the State Treasury will gain, as the 19% capital gains tax on dividends will probably net the government around zł.1 billion. "Companies no longer fear paying out dividends," said Michał Szymański, OFE Commercial Union investment director. In 2004 some 53 publicly listed companies spent almost 55% of their profits, that is zł.2.6 billion, on dividends. This year the total amount of dividends may double, as the economic situation is now considerably better. On top of that, bank PKO BP has earmarked zł.700 million for its dividend payout. It is said that PKN Orlen will distribute zł.600 million to its shareholders, following a 2004 profit of over zł.2 billion. Bank Millennium recently announced it would pay out almost all of its profits - zł.237 million, while KGHM Polska Miedź will pay out at least zł.100 million. (Rzeczpospolita, February 19-20, pp. A1, B1, B2) D.W.