Treasury backs KGHM's investments over dividends plan

"We assume that the investment outlay will amount to between zł.500-600 million, and with spending on deep deposit exploration in Głogów it may even surpass zł.1 billion," added Błądek. The State Treasury Minister Zbigniew Kaniewski, who was also present at the conference, affirmed that the Ministry backs the company's investment plans. KGHM plans to post a net profit of zł.652 million this year, but it is possible that this figure may be even higher. Nevertheless, while the company does not intend to pay out any of this in dividends, it is possible that its employees will receive a pay rise slightly above the level of inflation. KGHM stocks fell by 6.25% on Thursday, which according to some analysts was partly a result of the company president's statement. (Puls Biznesu, p.7; Parkiet p.1) E.B.