KRUK to pay nearly PLN 26m in dividends

Shareholders of KRUK S.A. approved the Management Board’s recommendation, resolving to pay out dividends of PLN 1.5 per share from net profit earned in 2014. This will be the first dividend distribution in the history of KRUK S.A.

The Annual General Meeting of KRUK S.A. resolved today to distribute PLN 25.9m, or 17% of consolidated net profit earned in 2014, as dividends. The dividend per share will be PLN 1.5, with all the 17,291,773 outstanding shares in the Company carrying the right to the dividend. The dividend record date and the dividend payment date were set for July 1st 2015 and July 24th 2015, respectively.

"Today’s decision confirms that we and our shareholders share the same vision of the Company’s long-term growth. Continued growth, business expansion and profit maximisation remain our shared priorities. The announced distribution of PLN 1.5 per share, after the record-breaking 2014, definitely allows for these plans. We also hope that it will promote a culture of cost efficiency and encourage shareholders both within and outside the Group to accumulate KRUK shares," said Piotr Krupa, President of the Management Board of KRUK S.A.

The Company has made no promises about any dividend distributions in the following years, but does not rule out that possibility. Any future decisions to pay out dividends will depend on market conditions, our performance and ability to secure the necessary financing for continued growth of all KRUK Group companies.

Since 2011 alone, our companies have invested a total of PLN 1.9bn in unsecured consumer debt portfolios, consumer mortgage-backed debt portfolios and corporate debt portfolios in four markets: Poland, Romania, the Czech Republic and Slovakia. In the second quarter, KRUK reported the purchase of two retail portfolios in Poland and Romania for a total amount of approximately PLN 98m. The total nominal value of the portfolios exceeded PLN 1bn. By the end of this year, KRUK plans to purchase its first portfolio in Germany and enter into another Western European market.