| | Report No. 10/2018 – Profit earned by PKO Bank Polski S.A. in the year 2017 - recommendation on distribution
Legal basis:
Article 17(1) of the MAR
Content of the Report:
The Management Board of PKO Bank Polski S.A. (the “Bank”) announces that on 3 April 2018 it adopted a resolution and decided to submit a recommendation to the Annual General Meeting of the Bank on the following distribution of the profit earned by the Bank in 2017 in the amount of PLN 2,774,000 k:
1) for the dividend for shareholders PLN 687,500 k;
2) for the supplementary capital in the amount of PLN 2,050,000 k;
3) for reserve capital in the amount of PLN 36,500 k.
This means that the Management Board of the Bank recommends to allocate 24.80% of the profit for 2017 for the dividend which gives PLN 0.55 gross per share.
The recommendation of the Bank’s Management Board is consistent with the Bank's dividend policy which assumes systematic payments of dividends in the long term perspective, with respect to the principle of prudent management of the Bank and the Bank’s Group.
The decision on the recommended distribution of the profit for 2017 is comprehensive with the Bank’s Management Board and Supervisory Board decision on going by the individual recommendation of the Polish Financial Supervision Authority (“PFSA”) confirmed that the Bank fulfils the criteria for the payment of dividend up to 25% of the net profit for 2017. The Bank informed about the recommendation of the PFSA in the report No. 7/2018.
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