KRUK to distribute profit to shareholders

The KRUK Management Board will recommend to the General Meeting that a dividend of PLN 1.5 per share be distributed to shareholders from net consolidated profit earned in 2014. The balance of the net profit will be allocated to statutory reserve funds. If shareholders approve the recommendation, this will mark the first dividend distribution since the KRUK Group’s floatation on the WSE.

“Continued growth, business expansion and profit maximisation remain our key priorities. We believe that a dividend payout made after a very good year cannot undermine that. In the first three quarters alone, we booked PLN 126m in net profit, which is nearly 30% more than in the entire 2013,” commented Piotr Krupa, President of the KRUK Management Board.

The Management Board is of the opinion that the dividend of PLN 1.5 per share will not affect the Group’s overriding plan for further business growth, as the dividend decision and the dividend amount take into account the Group’s future investment financing requirements, as well as its current debt level and overall financial standing. The dividend distribution will promote the culture of cost efficiency and encourage shareholders both within and outside the Group to accumulate KRUK shares.

“This year’s dividend decision was made because we wanted to enable our shareholders to share in the profit for a very good year, but it also provides an attractive addition to the incentive scheme we have implemented for our employees. Having said that, we make no promises about any future dividend distributions. We are not ruling them out, but they will depend on the market conditions and on our performance and ability to secure the financing we need to further grow our business. Today, we can see great potential in our existing and potential new geographical markets,” Mr Krupa added.

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