Polish Real Estate Holding (PHN) will pay out its entire 2013 profits in dividends this year, which amounts to PLN 2.15 per share. The state-run company posted a net profit of PLN 98.9m last year. PHN intends to pull an additional PLN 0.9m from its base capital in an effort to bump its total contribution to the state budget to PLN 99.8m this year.
The decision is in line with a previous announcement from the Polish government released last year in regards to revenue generated by PHN. Deputy Treasury Minister Paweł Tamborski said the government plans to take capital from the company before launching the second stage of its privatization on the Warsaw Stock Exchange.
Nearly 73 percent of the company is reportedly in the hands of Poland’s Treasury.
