ORLEN recommends dividend payment
Today, the Management Board of PKN ORLEN decided to recommend a dividend payment for 2017. The high dividend proposal of PLN 3 per share, the same as last year, will be put forward for consideration at the Annual General Meeting. For the past five years, the Company has implemented a dividend policy factoring in its financial ratios, overall financial condition and expansion plans.
“We have decided to recommend again a high level of dividend despite the recently completed PLN 3.5bn transaction to buy up Unipetrol shares and despite planned acquisitions within the Polish oil sector, which will require significant financial resources in the medium term, regardless of the scenario we choose to follow. The company is on a sound financial footing. That said, we understand that the energy sector, in which we operate, is particularly susceptible to any changes in the macroeconomic, economic and social environment,” said Daniel Obajtek, President of the Management Board of PKN ORLEN.
If the dividend proposal is approved by the Annual General Meeting, the Company will pay approximately PLN 1.3bn to its shareholders in the second half of this year.