PGEās quarterly report hopes for a healthy dividend to be divided up with shareholders, the Puls Biznesu daily reports, following the announcement of PLN 7bn in profits in Q1 of 2012. PGEās management board is recommending a payout of PLN 1.32 per share, which would eat up roughly PLN 3.75bn of the companyās 2011 profits. Analysts claim it should be more.
The timing is right for higher dividends, says Robert Maj from KBC Securities, citing Polandās Anti-monopoly Office refusal this week to agree to a take-over of Energa by PGE. āWe are currently waiting for the written justification of the verdict and weāre considering an appeal. The level of the dividend we proposed is appropriate, and the additional money is intended for the new investments,ā says Wojciech Ostrowski, PGEās Vice-president.
