PL

Motion of the Management Board of Grupa Kęty S.A. with regard to 2023 profit distribution and dividend payment as well as assessment of the motion by the Supervisory Board

The Management Board of Grupa Kęty S.A. (hereinafter referred to as the Issuer or the Company) informs that on 22 April 2024 it passed a resolution recommending to the Annual General Meeting:

a) allocation of the net profit generated by the Company in 2023, amounting to PLN 583,532,610.48 (say: five hundred and eighty three million five hundred and thirty two thousand six hundred and ten zlotys 48/100) in the following manner:

  • the amount of PLN 439,793.00 (say: four hundred and thirty nine thousand seven hundred and ninety three zlotys 00/100) to be allocated to covering the actuarial loss in relation to remeasurement of post-employment employee benefits;
  • the amount of PLN 539,302,773.20 (say: five hundred and thirty nine million three hundred and two thousand seven hundred and seventy three zlotys 20/100) to be allocated to paying dividend to shareholders;
  • the amount of PLN 43,790,044.28 (say: forty three million seven hundred and ninety thousand forty four zlotys 28/100) to be allocated to increasing the reserve capital;

 

b) payment of dividend to the shareholders in the amount of PLN 539,302,773.20 (say: five hundred and thirty nine million three hundred and two thousand seven hundred and seventy three zlotys 20/100), i.e. PLN 55.70 per share, in reference to the number of shares of the Company as at the date of passing this resolution (9,682,276).

Moreover, in the motion of the Management Board of Grupa Kęty S.A. on 2023 profit distribution, the Issuer’s Management Board proposes 21 August 2024 as the dividend record day, whereas the dividend payment date is proposed to be:

  • 4 September 2024 – the amount of PLN 183,963,244.00 (say: one hundred and eighty three million nine hundred and sixty three thousand two hundred and forty four zlotys 00/100), i.e. PLN 19.00 per share;
  • 6 November 2024 – the amount of PLN 355,339,529.20 (say: three hundred and fifty five million three hundred and thirty nine thousand five hundred and twenty nine zlotys 20/100), i.e. PLN 36.70 per share.

Recommending the amount and dates of dividend payment to the Annual General Meeting, the Management Board of Grupa Kęty S.A. took into account the current and foreseeable financial standing of the Company. The amount of the dividend complies with the Company policy in that regard, which assumes the dividend payment ratio of 60% to 100% of the consolidated net profit of the Company generated in the preceding year.

The recommendation by the Issuer’s Management Board was submitted to the Supervisory Board of the Company, which on 22 April 2024 – acting pursuant to Article 382.3 of the Code of Commercial Companies – issued a positive opinion on the Management Board’s motion with regard to distribution of the profit generated by the Company in 2023 as well as dividend payment.

The final decision regarding profit distribution for the reporting year 2023 and dividend payment will be made by the Annual General Meeting.