Fulfilment criteria for payment of 100% dividendSource: RNS
24.02.2022 - Report 4/2022: Letter from the Polish Financial Supervision Authority regarding the fulfilment of the criteria for the payment of dividend up to 100% from the net profit generated in 2021
Bank Polska Kasa Opieki S.A. (the "Bank") hereby informs that the Bank on February 24, 2022 received an individual recommendation of the Polish Financial Supervision Authority (the "PFSA") regarding the Bank's dividend policy.
As at December 31, 2021, in terms of the basic criteria set out in the PFSA's position of December 9, 2021 on the dividend policy of commercial banks for 2022, Bank met the requirements qualifying for the payment of dividend up to 100% from the Bank's profit generated in the period from January 1, 2021 to December 31, 2021.
In addition, the PFSA recommended the Bank not to take other actions, in particular those outside the scope of current business and operating activities, which could result in a reduction of the own funds, including possible dividend payments from undistributed profit from previous years (i.e. from 2020 and previous years) and share buybacks, without prior consultation with the supervisory authority.
The Management Board of the Bank has not yet made a decision on the proposed profit distribution for 2021.
Legal basis: Art. 17 of (1) MAR - inside information