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Current Report No.: 15/2021

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Recommendation of the Management Board of CIECH S.A. regarding allocation of profit for 2020 and payment of dividend

Current Report No.: 15/2021

Date of preparation: 18.05.2021

Abbreviated name of the Issuer: CIECH S.A.

Subject: Recommendation of the Management Board of CIECH S.A. regarding allocation of profit for 2020 and payment of dividend

Legal basis: Art. 17.1 of the MAR – inside information


Report: 

The Management Board of CIECH S.A. (the "Company" or “Issuer”) herewith informs that on 18 May 2021, it adopted a resolution on its recommendation to the Annual General Meeting of the Issuer to:

  1. allocate the net profit generated by the Company in 2020, amounting to PLN 155,287,361.59 in its entirety, to the payment of dividend;
  2. transfer the amount of PLN 2,812,365.41 from the reserve capitals created from net profits in order to allocate it to the payment of dividend;
  3. distribute dividend in the amount of PLN 158,099,727.00, i.e. PLN 3.00 per share, from the net profit of the Company for 2020, increased by the amount transferred from the reserve capital created from net profits,
  4. set dividend date at 24 June 2021,
  5. set dividend payment date at 8 July 2021.

At the same time, the Management Board of CIECH S.A. informs that it intends to request the Supervisory Board of the Company to evaluate the application submitted to the Annual General Meeting of the Company regarding the allocation of the profit for 2020 and payment of dividend and dividend date and dividend payment date, as per this recommendation of the Management Board of the Issuer.

Legal basis: Article 17.1 of the Regulation of the European Parliament and of the Council (EU) No. 596/2014 of 16 April 2014 on Market Abuse (the Market Abuse Regulation) and repealing Directive 2003/6/EC of the European Parliament and of the Council and Commission Directives 2003/124/EC, 2003/125/EC and 2004/72/EC (Official Journal of the European Union L No. 173, p. 1).

Signatures of the Company’s representatives:

  1. Dawid Jakubowicz – President of the Management Board
  2. Jarosław Romanowski – Member of the Management Board
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